Missouri House Bill HB666

Missouri 2023 Regular Session

• Introduced: 1/5/23
• Refer: 5/12/23

Caption

Modifies provisions related to the "circuit breaker" property tax credit for certain vulnerable persons

Impact

The bill is expected to influence state laws by expanding eligibility criteria and potentially increasing the amount of credit awarded to qualifying individuals under the circuit breaker program. The intent behind these modifications is to ensure that those who are most affected by rising property taxes receive the necessary support. If successful, the legislation may lead to increased housing affordability for the affected groups, allowing them to remain in their homes and improve their overall quality of life.

Summary

House Bill 666 aims to modify the provisions related to the 'circuit breaker' property tax credit specifically for certain vulnerable persons. This initiative is designed to provide enhanced tax relief to individuals who are financially vulnerable, including the elderly and disabled individuals. By adjusting the parameters of the existing tax credit, HB666 seeks to alleviate the financial burden associated with property taxes, thereby promoting greater economic stability for these populations.

Sentiment

The sentiment surrounding HB666 appears to be largely positive, as it addresses a pressing issue affecting vulnerable members of society. Proponents argue that the modifications to the circuit breaker credit reflect a commitment to social equity and recognize the financial challenges faced by the elderly and disabled. There is a general consensus among supporters that the bill represents a crucial step towards ensuring that property taxation does not disproportionately impact those who are already struggling financially.

Contention

Notably, while there is significant support for HB666, some concerns have been raised regarding the bill's fiscal implications. Critics worry about the potential revenue loss for local governments and overall funding for essential services due to expanded tax credits. This raises questions about the balance between providing assistance to vulnerable populations and ensuring that local budgets remain intact to support community services. The debates surrounding these points of contention illustrate the complexities involved in tax legislation centered on social welfare.