HB 1768 -- Income Tax Credit for Excess School District Property
Taxes Paid

Sponsor:  Bivins

Beginning January 1, 2011, this bill authorizes an individual
income tax credit for excess school district property taxes paid.
The credit will be determined by multiplying the amount of the
taxpayer's property taxes assessed by the taxpayer's school
district and paid by the taxpayer by the difference between the
average percentage of local funding and the percentage of local
receipts expressed as a decimal rounded to the nearest hundredth.
The credit is not refundable or transferrable, but can be carried
forward for up to three taxable years.

The provisions of the bill will expire December 31 six years from
the effective date.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:11 pm