Bill > SB64

This bill modifies the Senior Citizens Property Tax Relief Credit by making several key changes to eligibility, income limits, and credit calculations. The bill expands eligibility to include individuals with disabilities who cannot engage in substantial gainful activity, as well as those who have reached age 60 and receive surviving spouse Social Security benefits. For income calculations, the bill adjusts exemption amounts, initially reducing spousal exemptions to $2,000 through 2025 and then increasing them to $2,800 in 2026. The maximum property tax credit limits will also change in 2026, with different upper limits based on filing status (ranging from $38,200 to $48,000) and an annual inflation adjustment starting in 2027. The credit calculation methodology is updated, increasing the maximum credit from $1,100 to $1,550 in actual property tax or rent equivalent, with income increments and percentage calculations modified. Additionally, the bill requires the Department of Revenue to proactively identify and notify potential qualified claimants who have not yet applied for the credit, making the tax relief more accessible to eligible seniors and disabled individuals.

Labor and Employment

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=447