MO SB77

Reauthorizes the Missouri Homestead Preservation Act, changing the language from "may" to "shall" be known by this name, effective for tax years beginning January 1, 2016

Extends the application deadline from September 30 to October 15 for eligible property owners seeking the homestead exemption credit

Eligible owners include individuals 65+ or disabled with income at or below the maximum upper limit ($70,000 in 2005, adjusted annually for inflation), who have paid property taxes in full for the prior three years

Removes outdated transitional provisions related to 2005-2011 applications and simplifies the homestead exemption limit calculation to be based on tax liability increases from two years prior to the application year

Program automatically sunsets six years after the effective date of the act under Missouri's sunset review provisions