HOUSE BILL NO. 1336 103RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE REEDY.
2750H.01I JOSEPH ENGLER, Chief Clerk
AN ACT To repeal section 137.1050, RSMo, and to enact in lieu thereof one new section relating to a homestead local property tax credit.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 137.1050, RSMo, is repealed and one new section enacted in lieu 2 thereof, to be known as section 137.1050, to read as follows: 137.1050. 1. For the purposes of this section, the following terms shall mean: 2 (1) "Eligible credit amount", the difference between an eligible taxpayer's real 3 property tax liability on such taxpayer's homestead for a given tax year, minus the real 4 property tax liability on such homestead in the eligible taxpayer's initial credit year; 5 (2) "Eligible taxpayer", a Missouri resident who: 6 (a) Is sixty-two years of age or older; 7 (b) Is an owner of record of a homestead or has a legal or equitable interest in such 8 property as evidenced by a written instrument; and 9 (c) Is liable for the payment of real property taxes on such homestead; 10 (3) "Homestead", real property actually occupied by an eligible taxpayer as the 11 primary residence. An eligible taxpayer shall not claim more than one primary residence; 12 (4) "Initial credit year": 13 (a) In the case of a taxpayer that meets all requirements of subdivision (2) of this 14 subsection prior to the year in which a credit is authorized pursuant to subsection 2 of this 15 section, the year in which such credit is authorized; 16 (b) For all other taxpayers, the year in which the taxpayer meets all requirements of 17 subdivision (2) of this subsection and applies for the credit.
EXPLANATION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed language. HB 1336 2
18 19 If in any tax year subsequent to the eligible taxpayer's initial credit year the eligible taxpayer's 20 real property tax liability is lower than such liability in the initial credit year, such tax year 21 shall be considered the eligible taxpayer's initial credit year for all subsequent tax years. 22 2. (1) Any county authorized to impose a property tax may grant a property tax credit 23 to eligible taxpayers residing in such county in an amount equal to the taxpayer's eligible 24 credit amount, provided that: 25 (a) Such county adopts an ordinance authorizing such credit; or 26 (b) a. A petition in support of a referendum on such a credit is signed by at least five 27 percent of the registered voters of such county voting in the last gubernatorial election and the 28 petition is delivered to the governing body of the county, which shall subsequently hold a 29 referendum on such credit. 30 b. The ballot of submission for the question submitted to the voters pursuant to 31 paragraph (b) of this subdivision shall be in substantially the following form: 32 Shall the County of ______ exempt senior citizens aged 62 and 33 older from increases in the property tax liability due on such 34 senior citizens' primary residence? 35 ☐ YES ☐ NO 36 37 If a majority of the votes cast on the proposal by the qualified voters voting thereon are in 38 favor of the proposal, then the credit shall be in effect. 39 (2) An ordinance adopted pursuant to paragraph (a) of subdivision (1) of this 40 subsection shall not preclude such ordinance from being amended or superseded by a petition 41 subsequently adopted pursuant to paragraph (b) of subdivision (1) of this subsection. 42 3. (1) A county granting credit pursuant to this section shall apply such credit when 43 calculating the eligible taxpayer's property tax liability for the tax year. The amount of the 44 credit shall be noted on the statement of tax due sent to the eligible taxpayer by the county 45 collector. The county governing body may adopt reasonable procedures in order to carry out 46 the purposes and intent of this section, provided that the county shall not adopt any procedure 47 that limits the definition or scope of eligible credit amount or eligible taxpayer as defined in 48 this section. 49 (2) If an eligible taxpayer makes new construction and improvements to such eligible 50 taxpayer's homestead, the real property tax liability for the taxpayer's initial credit year shall 51 be increased to reflect the real property tax liability attributable to such new construction and 52 improvements. 53 (3) If an eligible taxpayer's homestead is annexed into a taxing jurisdiction to which 54 such eligible taxpayer did not owe real property tax in the eligible taxpayer's initial credit HB 1336 3
55 year, then the real property tax liability for the taxpayer's initial credit year shall be increased 56 to reflect the real property tax liability owed to the annexing taxing jurisdiction. 57 (4) Nothing in this section shall be construed to relieve a taxpayer of the 58 obligation to pay the tax liability levied for: 59 (a) The state blind pension fund; or 60 (b) Any tax levied for the payment of voter-approved bond indebtedness. 61 4. For the purposes of calculating property tax levies pursuant to section 137.073, the 62 total amount of credits authorized by a county pursuant to this section shall be considered tax 63 revenue, as such term is defined in section 137.073, actually received. 64 5. A county granting a tax credit pursuant to this section shall notify each political 65 subdivision within such county of the total credit amount applicable to such political 66 subdivision by no later than November thirtieth of each year. ✔
Statutes affected: