Senate Bill No. 39 Summary

• Changes the Missouri Homestead Preservation Act from discretionary ("may") to mandatory ("shall") and extends the program with updated effective dates from 2005 to 2014

• Maintains eligibility requirements for seniors age 65+ or disabled individuals with income not exceeding a maximum upper limit (adjusted annually for inflation), and requires full payment of property taxes for the three prior years

• Allows eligible owners to receive a tax credit offsetting property tax increases that exceed the homestead exemption limit, with the credit amount listed separately on tax bills

• Requires applications to be filed between April 1 and October 15 annually, with the department verifying income, age, and property tax payment history by December 15 each year

• Establishes sunset provisions requiring reauthorization by the general assembly four years after the effective date, with automatic termination on September 1 of the following calendar year if not reauthorized