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MO HB1621

Bill

Official Source

Status

Introduced

1/13/2010

Primary Sponsor

Margo McNeil

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Repeals and re-enacts section 135.030, RSMo, regarding senior citizens property tax relief credits
  • Increases the minimum base for calculating property tax credits from $14,300 to $16,000 for all calendar years beginning January 1, 2011 and thereafter
  • Maintains maximum upper income limits of $27,500 for most seniors and $30,000 for those with homesteads owned and occupied for the entire year
  • Requires the Department of Revenue to proactively identify eligible taxpayers who have not applied for the credit and notify them of their potential eligibility
  • Property tax credits are calculated based on the amount by which total property taxes exceed a percentage of income, with percentages ranging from 0% to 4% depending on income level

Legislative Description

Increases from $14,300 to $16,000 the minimum base used to calculate the senior citizens property tax credit, commonly known as circuit breaker

Last Action

Referred: Ways and Means (H)

5/14/2010

Committee Referrals

Ways And Means5/14/2010

Full Bill Text

No bill text available