HB 1866 -- Income Tax:  Circuit Breaker

Co-Sponsors:  Fares, Hanaway, Shoemaker (8), Ostmann, Villa,
Dolan, Reid

This bill changes elements of qualification and amount of credit
allowed under the senior citizen/disabled person property tax
credit, commonly known as circuit breaker.

The bill:

(1)  Increases the amount of exemption allowed for a married
couple from $2,000 to $4,000;

(2)  Increases the maximum income allowed to claim a credit from
$25,000 to $30,000; and

(3)  Increases the minimum base from $13,000 to $18,000.  The
minimum base is the maximum level of income at which the taxpayer
receives as a credit 100% of property taxes paid up to the
maximum of $750.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:02 am