Modifies the "Senior Citizen Property Tax Relief Credit" or "circuit breaker" tax credit by modifying the eligibility criteria, increasing the maximum upper limit, and increasing the property tax credit amounts

HB 1196 modifies Missouri's Senior Citizen Property Tax Relief Credit (circuit breaker) program. It expands eligibility by lowering the age requirement from 65 to 60 for some seniors (effective 2026), adds disability criteria defined as inability to work for 12+ months, and clarifies rules for surviving spouses and disabled veterans. The bill increases income exemptions ($2,800/$5,800 instead of $2,000/$4,000) and adjusts how property taxes and income are calculated for credit purposes. This directly affects Missouri residents aged 60+ (or disabled/veterans) who own or rent a homestead and meet income limits. The changes aim to make the credit more accessible while updating eligibility and calculation rules.