Friday, May 22, 2009

State Transfers Federal Stabilization Funds into General Revenue

JEFFERSON CITY - The Office of Administration announced today - May 21- that it will move $250 million of federal stabilization revenue into the general revenue fund. The $250 million will be used to accelerate payment of 2008 individual income tax refunds that are currently pending. By moving this available revenue into the general revenue fund, the state will be able to pay taxpayers for virtually all 2008 individual tax refunds that were received by the Department of Revenue.

The $250 million federal stabilization revenue is from enhanced federal Medical Assistance reimbursement on expenses already paid by the State

Missouri Office of Administration Release

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