Bills › 89th General Assembly
Relating to the extraordinary homestead property tax credit and reimbursement for rent constituting property taxes paid for certain elderly claimants and including effective date and applicability provisions
Topics:Families & human servicesTaxesProperty taxesTax credits & incentives
Where it is now
- Done: IntroducedFebruary 18, 2021
- Stopped: SubcommitteeDied when the General Assembly ended
- Next: House committee
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2022 session adjourned on May 24, 2022, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
AI summary People who are 65 or older could receive a property tax credit or rent reimbursement that covers 100 percent of their costs. This change would apply to these seniors regardless of how much money they make and removes the previous $1,000 limit on the credit.1
Read the official explanation
Current Code chapter 425, subchapter II, provides an extraordinary property tax credit or rent reimbursement for certain elderly and disabled persons in addition to the homestead property tax credit. The amount of the property tax credit or rent reimbursement is determined in accordance with a schedule, adjusted for inflation, based on the income of the claimant, ranging from a credit or rent reimbursement of percent of property taxes due or rent constituting property taxes paid up to 100 percent for those in the lowest income bracket. This bill modifies the credit amount for a claimant who has attained the age of to be 100 percent of the property taxes due or rent constituting property taxes paid regardless of income and by removing the $1,000 credit or rent reimbursement limit for those claimants. The bill also makes corresponding changes to other provisions of Code chapter 425. The bill takes effect upon enactment and applies to property taxes due and payable in fiscal years beginning on or after July 1, 2021.