HB 1434 -- Circuit Breaker

Sponsor:  Zweifel

This bill 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 bill:

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

(2)  Indexes the maximum income allowed to claim the credit by
the increase in the Consumer Price Index in increments of $50.
The current maximum income to qualify is $25,000; and

(3)  Indexes the minimum base by the increase in the Consumer
Price Index in increments of $50.  The current minimum base is
$13,000.  The minimum base is the maximum level of income at
which the taxpayer receives as a credit all property taxes paid
up to the maximum of $750.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am