HB 704 -- Income Tax Credit for Personal Property Taxes for the Elderly Sponsor: Hoskins (80) Beginning January 1, 2010, this bill authorizes a refundable income tax credit for taxpayers 70 years of age or older for 50% of the personal property taxes paid on motor vehicles they own. The credit is not transferrable. The provisions of the bill will expire December 31 six years from the effective date.Copyright (c) Missouri House of Representatives