SB 101 - Current law authorizes an income tax credit for certain senior citizens and disabled veterans in amount equal to a portion of such taxpayer's property tax liabilities, not to exceed $750 in rent constituting property taxes actually paid or $1,100 in actual property tax paid. This act annually adjusts such maximum amounts for inflation. (Section 135.025)

Additionally, current law limits the tax credit to qualifying taxpayers with an income of $27,500 or less, or $30,000 in the case of a homestead owned and occupied by a claimant for the entire year. This act increases such maximum income to $35,000, or $38,000 in the case of a homestead owned and occupied by a claimant for the entire year, and annually adjusts both amounts for inflation. (Section 135.030)

This act is identical to SB 930 (2024) and to provisions in SS/SCS/SB 15 (2023), and is substantially similar to SB 822 (2024), HCS/HB 1428 (2024), HB 1670 (2024), HB 1939 (2024), HB 2050 (2024), HB 666 (2023), and HCS/HB 1134 (2023), and to provisions in HB 1636 (2024), HCS/SS/SB 143 (2023), HCS/SB 247 (2023), and HB 1351 (2023).

JOSH NORBERG

Statutes affected:
Introduced (0109S.01): 135.025, 135.030

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Senate Committee Minutes:
SENATE COMMITTEE MINUTES Bill No.: SB 101
Sponsor: Cierpiot
Hearing Date: 2/19/2025


COMMITTEE: Economic and Workforce Development

CHAIRMAN: Brown (26)

DATE REFERRED: 1/23/2025 DATE HEARING REQUESTED: 2/13/2025



STAFF:
Mary Beth Bruns
Frank Catanzaro
Hannah Embry
Josh Norberg


WITNESSES GIVING INFORMATION:



WITNESSES FOR:
Tom Dempsey - Catholic Charities and Archdiocease of St. Louis
Jay Hardenbrook - AARP
Bryan Colby - Missouri Budget Project
Lucas Caldwell-McMillian - Empower Missouri
Madison Eacret - Missouri Association of Area Agencies on Aging
Kelvin Simmons - Healthcare Coalition of Kansas City


WITNESSES AGAINST: