- Introduced -

SB 5 - This act revises the current prescription drug tax credit for seniors. A new section 135.760 is created to allow a credit to taxpayers sixty-five years or older equal to sixty-five percent of the total amount spent on prescription drugs. Any other reimbursements received will be subtracted from the credit amount and ten percent of the taxpayer's household income will be subtracted from the credit amount. Any excess will be considered an overpayment of tax. The following individuals will be eligible:

- If filing single, head of household, or qualifying widower = income less than $50,000;

- If married filing combined = income less than $75,000;

- If married filing separately = income less than $37,500.

ERIN MOTLEY