HB 816 -- Missouri Homestead Preservation Act

Sponsor:  Bivins

This bill revises the definition of "eligible owner" for purposes
of the Missouri Homestead Preservation Act to include property
held in trust.  An individual entitled to the tax credit must
currently reside in the homestead and, except for the transfer of
this property into a trust, satisfy the age, ownership, and
income requirements.

In the case of ownership of the homestead by trust, the income of
the creator of the trust will be imputed to determine the income
of the trust regarding the maximum upper limit.

Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:20 pm