HCS HB 1467 & 903 -- SENIOR CITIZENS' HOMESTEAD TAX RELIEF ACT
SPONSOR: Cooper, 120 (Sutherland)
COMMITTEE ACTION: Voted "do pass" by the Committee on Tax Policy
by a vote of 15 to 2.
This substitute changes the qualifications for and the amount of
credit allowed under the senior citizen/disabled person property
tax credit, commonly known as circuit breaker. The substitute
renames the program the Senior Citizens' Homestead Tax Relief
The substitute also:
(1) Increases from $25,000 to $25,500 the maximum income allowed
to claim the credit and indexes the new amount by the increase in
the Consumer Price Index in increments of $50; and
(2) Increases from $13,000 to $13,300 the minimum base and
indexes the new amount by the increase in the Consumer Price
Index in increments of $50. The minimum base is the maximum
level of income at which the taxpayer receives a credit for
property taxes paid up to the maximum of $750.
FISCAL NOTE: Estimated Effect on General Revenue Fund of an
income of $0 in FY 2005, a cost of $1,393,264 in FY 2006, and a
cost of $2,747,221 in FY 2007. No impact on Other State Funds in
FY 2005, FY 2006, and FY 2007.
PROPONENTS: Supporters say that they support these changes to
Testifying for the bill were the Cooperating School Districts of
Greater Kansas City; Missouri School Boards Association; School
Administrator Coalition; and Missouri National Education
OPPONENTS: There was no opposition voiced to the committee.
Karla Strobel, Legislative Analyst
Copyright (c) Missouri House of Representatives
Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am