Modifies provisions relating to the local homestead property tax credit for certain seniors

HB 1336 modifies Missouri's property tax credit program for seniors, allowing counties to provide a credit equal to the difference between a senior's current property tax and their "initial credit year" tax. It directly affects Missouri residents aged 62+ who own their primary home and pay property taxes on it. Counties must either pass an ordinance or hold a voter referendum (with a "yes" vote required) to implement the credit, which applies only to primary residences. The bill specifies that the credit amount is recalculated if property taxes change due to new construction or annexation.