person holding fan of U.S. dollars banknote

Residents across the Show Me State could soon see a $500 tax refund if a bill filed in the Missouri Senate passes.

The legislation sponsored by State Senator Lincoln Hough of Springfield is asking the state to “give back” some $3 billion dollars that’s just sitting in the state’s bank account.

Hough says if the state doesn’t plan to use the money that’s been collected, it should be given back to families across the state who area already struggling with higher inflation and low pay.

In order to get the refund, if approved by the state, you’d need to file a tax return for 2021.

Individuals would get $500 while those filing jointly would get $1000 by June 1, 2022.