MO HB1131

Modifies Section 137.106 RSMo to reauthorize the Missouri Homestead Preservation Act, which provides property tax credits to eligible homeowners who are 65+ years old or disabled with income below a specified limit.

Changes the effective date of the program from January 1, 2005 to January 1, 2015, and extends the sunset provision from six years to four years with reauthorization opportunities.

Adjusts application procedures by extending the application deadline from September 30 to October 15 and requiring applicants to submit receipts for three prior tax years instead of two.

Clarifies that the Director of Revenue shall determine eligible owners and calculate credits based on an equal apportionment percentage when appropriations are made by the General Assembly.

Updates the rulemaking authority sunset date from August 28, 2004 to August 28, 2014 and establishes a four-year sunset cycle for the program with automatic termination unless reauthorized by the General Assembly.