Effort to End Mo. Renters Tax Break Gains Backing
JEFFERSON CITY - An effort to abolish a Missouri tax break for seniors and disabled residents who live in rental housing is gaining some powerful support.
Senate President Pro Tem Tom Dempsey, a Republican, has filed legislation to end the tax credit that provides up to $750 annually to senior and disabled individuals with incomes below $27,500.
Dempsey's bill would implement a proposal by Democratic Gov. Jay Nixon to deposit the savings from the abolished tax credit into a new fund for programs that serve seniors and the disabled.
A commission appointed in 2010 by Nixon recommended ending the tax credit for renters while allowing it to continue for homeowners. Nixon initially had opposed the idea, and Dempsey had voted to keep the tax credit for renters in September 2011.