Modifies provisions relating to the local senior citizen homestead property tax credit

HB 3526 modifies Missouri's property tax credit program for senior citizens. It creates a credit equal to the difference between a senior's current property tax on their primary home and their tax liability in their "initial credit year," directly affecting Missouri residents aged 65+ (or receiving specific Social Security/veterans benefits) with household income under $75,000 who own their primary residence. Counties must adopt an ordinance or pass a referendum to implement the credit, and the state will reimburse counties for revenue losses. The bill also clarifies how property tax increases from home improvements or annexation affect the credit calculation.