2022 Missouri Revised Statutes
Title X - Taxation and Revenue
Chapter 143 - Income Tax
Section 143.1032 - Missouri medal of honor fund tax refund designation.

Effective - 28 Aug 2021

143.1032. Missouri medal of honor fund tax refund designation. — 1. In each taxable year beginning on or after January 1, 2022, each individual or corporation entitled to a tax refund in an amount sufficient to make a designation under this section may designate that one dollar or any amount in excess of one dollar on a single return, and two dollars or any amount in excess of two dollars on a combined return, of the refund due be credited to the Missouri medal of honor fund. The contribution designation authorized by this section shall be clearly and unambiguously printed on the first page of each income tax return form provided by this state. If any individual or corporation that is not entitled to a tax refund in an amount sufficient to make a designation under this section wishes to make a contribution to the Missouri medal of honor fund, such individual or corporation may, by separate check, draft, or other negotiable instrument, send in with the payment of taxes, or may send in separately, that amount, clearly designated for the Missouri medal of honor fund, the individual or corporation wishes to contribute. The department of revenue shall deposit such amount to the Missouri medal of honor fund as provided in subsection 2 of this section.

2. The director of revenue shall deposit at least monthly all contributions designated by individuals under this section to the state treasurer for deposit to the Missouri medal of honor fund. The fund shall be administered by the director of revenue.

3. The director of revenue shall deposit at least monthly all contributions designated by the corporations under this section, less an amount sufficient to cover the cost of collection, handling, and administration by the department of revenue during fiscal year 2021, to the Missouri medal of honor fund.

4. A contribution designated under this section shall only be deposited in the Missouri medal of honor fund after all other claims against the refund from which such contribution is to be made have been satisfied.

5. Moneys deposited in the Missouri medal of honor fund shall be used by the department of transportation to pay for the costs of the Missouri medal of honor signs.

6. The state treasurer shall invest moneys in the fund in the same manner as other funds are invested. Any interest and moneys earned on such investments shall be credited to the fund.

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(L. 2021 S.B. 258)

CROSS REFERENCE:

Missouri medal of honor recipients fund created, use of moneys, 226.925