Read 1st time January 18, 2000, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To amend chapter 135, RSMo, relating to income tax relief by adding thereto one new section relating to income tax relief for disabled veterans.
Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be known as section 135.560, to read as follows:
135.560. 1. For all tax years beginning on or after January 1, 2001, a resident veteran of any branch of the armed forces of the United States or of this state who became one hundred percent disabled as a result of such service, shall be exempt from taxation on any homestead located in this state which such veteran owns, either solely or jointly, and uses as his or her principal residence. The assessor of the county in which the homestead property is located shall require proof of the veteran's status and disability. In the event a resident disabled veteran who has previously claimed the exemption allowed by this section dies, leaving his or her surviving spouse as the holder of legal or beneficial title to the homestead, the surviving spouse may continue to claim the exemption for any tax year in which the surviving spouse is a resident of this state, and until such time as such surviving spouse remarries or sells or otherwise disposes of the property; provided that, if the surviving spouse sells the property, for any tax year which the surviving spouse remains a resident of this state, owns a different residence located within this state, uses the different residence as such surviving spouse's principal residence and does not remarry, the surviving spouse shall be allowed to continue to claim an exemption pursuant to this section in an amount equal to the amount claimed by the disabled veteran for the last tax year in which such veteran was living.
2. Local tax revenues lost as a result of the property exemption in subsection 1 of this section, which are not
replaced through increased state school aid payments pursuant to section 163.031, RSMo, or by tax rate
adjustments authorized pursuant to section 137.073, RSMo, shall be calculated by each county assessor and
reported to the state tax commission. The state tax commission shall report to the office of administration a list of
such revenue losses of each county. The office of administration shall calculate the effect of any increased school
aid payments, authorized tax rate adjustments, and other statutory provisions on the tax revenues of the various
political subdivisions and shall notify the governor and the general assembly of the required reimbursement
amounts.
Missouri House
of Representatives