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MO SB140
Bill
Status
1/19/2011
Primary Sponsor
Jason Crowell
Click for details
AI Summary
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Removes the definition of "gross rent" and "rent constituting property taxes accrued" from the property tax credit statutes, eliminating rent-based credits for tenants.
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Changes the "homestead" definition to remove the option of rented properties, limiting the credit to owned dwellings only.
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Eliminates the $750 cap on rent-equivalent property tax credits, removing all rent-related provisions from the property tax credit calculation in section 135.025.
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Maintains property tax credit eligibility for seniors (age 65+), disabled individuals, 100% disabled veterans, and surviving spouses receiving Social Security benefits, but only for homeowners.
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Requires the Department of Revenue to notify qualified taxpayers of their potential eligibility for the property tax credit.
Legislative Description
Repeals provisions of the Missouri property tax credit which allow renters to receive the property tax credit for rent constituting taxes paid
Last Action
Hearing Cancelled S Ways and Means and Fiscal Oversight Committee
2/24/2011