HB 1562 -- Circuit Breaker Tax Credit

Sponsor:  Smith (14)

This bill changes the qualifications for and the amount of credit
allowed under the senior citizen/disabled person property tax
credit, commonly known as circuit breaker.

The bill:

(1)  Increases from $2,000 to $4,000 the exemption for married
couples;

(2)  Indexes the maximum income allowed to claim the credit by
the increase in the Consumer Price Index in increments of $50;
and

(3)  Indexes the minimum base by the increase in the Consumer
Price Index in increments of $50.  The minimum base is the
maximum level of income at which the taxpayer receives as a
credit all property taxes paid up to the maximum of $750.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am