Summary of the Introduced Bill

HB 307 -- Income Tax Credit for Real Property Taxes Paid by the
Elderly and Disabled

Sponsor:  Fares

Beginning January 1, 2008, this bill authorizes, a 50% tax credit
for the elderly or disabled who have lived in their home for at
least 20 years and who have spent more than 10% of their
household income on real property taxes.  The tax credit is
refundable; and taxpayers will not be able to claim this credit
if they have filed a valid claim under Sections 135.030 or
137.106, RSMo, for the same tax year.

The provisions of the bill will expire six years from the
effective date.

Copyright (c) Missouri House of Representatives

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:18 am