SCS SB 630 -- HOMESTEAD PRESERVATION ACT

SPONSOR:  Gross (Portwood)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Senior Citizen Advocacy by a vote of 10 to 0.

This substitute modifies the Homestead Preservation Act by
including eligibility for multiple, unmarried property owners.
The substitute specifies that in the case of joint ownership or
tenancy in common by unmarried persons, all owners will be
considered eligible owners if each person with an ownership
interest individually satisfies the eligibility requirements.  To
qualify, the combined income of all interest holders in the
property must be less than the maximum upper limit in the year
prior to applying for the homestead credit.  The filing deadline
for the homestead tax credit is moved from September 30 to
October 15.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of Unknown
in FY 2007, FY 2008, and FY 2009.  No impact on Other State Funds
in FY 2007, FY 2008, and FY 2009.

PROPONENTS:  Supporters say that the current statute does not
address situations where there are multiple, unmarried property
owners.  The bill will close the statutory loophole by barring
persons, who are otherwise individually eligible for the credit,
from claiming the credit when joint owners of the property, taken
together, are ineligible for the tax credit.  The bill will not
change the underlying eligibility requirements for the homestead
exemption.  Extending the filing deadline will aid senior
citizens by providing them more time to file their application.

Testifying for the bill were Senator Gross; and AARP.

OPPONENTS:  There was no opposition voiced to the committee.

Alex Curchin, Legislative Analyst

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:46 am