Missouri Revised Statutes













Chapter 32

State Department of Revenue

←32.067

Section 32.068.1

32.069→

August 28, 2015

Annual rate of interest to be calculated, director of revenue to apply rate, when.

32.068. 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







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