Bill > HB1670

This bill modifies the "circuit breaker" tax credit by increasing the maximum upper limit and property tax credit amounts. Specifically, for calendar years beginning on or after January 1, 2025, the bill increases the maximum upper limit from $27,500 to $38,200 (or $42,200 if the homestead is owned and occupied for the entire year by the claimant). It also increases the maximum property tax credit from $1,100 to $1,550 in actual property tax or rent equivalent paid up to $1,055. The bill also provides annual increases to these limits based on the Consumer Price Index for All Urban Consumers for the Midwest Region.

Budget and Finance

https://house.mo.gov/Bill.aspx?bill=HB1670&year=2024&code=R