Modifies provisions relating to the Missouri working family tax credit act and makes the tax credit refundable

HB 1553 modifies Missouri's Working Family Tax Credit to make it refundable for tax years beginning on or after January 1, 2026, meaning eligible taxpayers will receive cash refunds for any credit amount exceeding their state tax liability (unlike current years, where excess credits are not refunded). The credit equals 10% of the federal Earned Income Tax Credit (EITC), with a potential increase to 20% if Missouri's net general revenue growth meets a $150 million threshold over prior fiscal years. It applies to Missouri residents filing as single, head of household, widowed, or married filing jointly who qualify for the federal EITC. The bill also requires the state Department of Revenue to proactively identify eligible taxpayers who didn’t apply for the credit and issue annual reports on credit usage and revenue impacts.