MO SB817

Changes the Missouri Homestead Preservation Act from a mandatory program ("shall") to clarify its legal status and operation regarding property tax credits for eligible homeowners.

Establishes eligibility for homeowners aged 65 or older, disabled individuals, or married couples with one spouse aged 65+ and other aged 60+, with combined income not exceeding $70,000 in 2005 (adjusted annually for inflation).

Provides a homestead exemption credit that offsets property tax liability increases exceeding a set percentage (5% in reassessment years, 2.5% in non-reassessment years) when the general assembly appropriates funding.

Requires applications filed between April 1 and October 15 annually through local assessors' offices, with applicants providing proof of three prior years' property tax payments and attesting to age and income requirements.

Extends the sunset date of the program from six years after the effective date to six years after August 28, 2010 (with option to reauthorize for an additional six years until 2022), requiring legislative action to continue the program beyond the initial authorization period.