Revisor Home

previous nextEffective 19 Jun 2002, see footnote bottom

Title IV EXECUTIVE BRANCH

  Chapter 32back to chapter 32

  32.068.  Annual rate of interest to be calculated, director of revenue to apply rate, when. — 1.  The state treasurer shall calculate an annual rate of interest pursuant to this section and provide the calculated rate of interest to the director of revenue as determined by subsection 2 of this section.

  2.  Each calendar quarter the state treasurer shall calculate the annual rate of interest.  The rate of interest shall be equal to the previous twelve-month annualized average rate of return on all funds invested by the state treasurer, rounded to the nearest one-tenth of one percent.  The state treasurer shall provide such calculated rate to the director of revenue not later than thirty days prior to the end of each calendar quarter.  The director of revenue shall apply the calculated rate of interest to all applicable situations during the next calendar quarter after the release of the calculated rate of interest.

  3.  Beginning January 1, 2003, the director of revenue shall apply the calculated rate of interest as determined by this section to all applicable situations.

  4.  In fiscal year 2003, the commissioner of administration shall estimate the amount of any additional state revenue received pursuant to this section and shall transfer an equivalent amount of general revenue to the schools of the future fund created in section 163.005.

­­--------

(L. 2002 S.B. 1248)

Effective 6-19-02


< end of effective 19 Jun 2002 >

use this link to bookmark section 32.068


In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Links
Oversight Library MO WebMasters
Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Contact
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House
 © Missouri Legislature, all rights reserved.   Site errors / suggestions - webmaster@LR.mo.gov 

Marie Elizabeth Oliver
Our flag's story

google bing

 4