MARBLE, SECREST, HANAWAY (Co-sponsors), BALLARD, HOLAND, BERKSTRESSER, ALTER,
OSTMANN, LEVIN, FROELKER, BARTLE, GROSS, CHAMPION, GRAHAM (106), SALLEE, NAEGER,
CRAWFORD, SUMMERS, REINHART, SCHEVE AND KING.
Read 1st time February 1, 2000, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To amend chapter 135, RSMo, relating to tax relief by adding thereto one new section relating to a tax credit against the state income tax for the payment of real property taxes, with an effective date.
Section A. Chapter 135, RSMo, is amended by adding thereto one new section, to be known as section 135.040, to read as follows:
135.040. 1. A resident shall be allowed a credit against the tax imposed by chapter 143, RSMo, pursuant to this section in an amount equal to ten percent of the real property taxes paid by the taxpayer on property which is classified as residential property and which is the principal residence of such taxpayer in the same taxable year for which the Missouri return is being filed.
2. If the total amount of allowable credit pursuant to this section exceeds the income tax reduced by other credits, then the excess shall be considered an overpayment of the income tax.
Section B. Section A of this act shall become effective January 1, 2001, and shall apply to all taxable years beginning
after December 31, 2000.
Missouri House of Representatives