Bills › 89th General Assembly
Modifying provisions relating to the additional property tax credit for elderly persons and including applicability provisions
Topics:Families & human servicesTaxesProperty taxesTax credits & incentives
Where it is now
- Done: IntroducedJanuary 24, 2022
- Done: SubcommitteeJanuary 26, 2022
- Stopped: Senate committeeDied when the General Assembly ended
- Next: Passes the Senate
- Next: House committee
- Next: Passes the House
- 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 Older homeowners could see changes to how much they receive for their property tax credit. The new rules limit this credit to people whose homes are worth $500,000 or less and remove certain income limits. It also changes how the credit amount is calculated for all eligible seniors.1
Read the official explanation
This bill modifies the eligibility for and the calculation of the amount of the property tax credit under Code chapter 425, subchapter II.23(1)(a), but not to exceed $1,000.23(1)(a) as if the claimant was an eligible claimant for a credit under that provision; and (2) the difference between the actual amount of property taxes due on the homestead during the applicable fiscal year minus the actual amount of property taxes due on the homestead based on a full assessment during the first fiscal year for which the claimant filed for a credit calculated under the Code chapter and if the claimant has filed for the credit for each of the subsequent fiscal years after the first credit claimed. The bill modifies the eligibility for and calculation of the credit under current law available to claimants who have reached the age of or more by limiting the credit to owners whose homestead value is $500,000 or less, by striking the maximum income level of 250 percent of the federal poverty level, and by imposing the credit calculation under current law for claimants years of age and over to all claimants years of age and older. The bill applies to claims under Code chapter 425, subchapter II, filed on or after January 1, 2023.
Senate subcommittee
Named January 26, 2022. It hasn’t reported yet.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
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89th General Assembly
Earlier and later bills are matched by wording or an identical title.
Similar bills
- SF 20 Modifying provisions relating to the additional property tax credit for elderly persons an…90th General Assembly · In committeeNearly identical
- HF 916 Modifying provisions relating to the additional property tax credit for elderly persons an…91st General Assembly · In committeeVery similar
- HF 92 Modifying provisions relating to the additional property tax credit for elderly persons an…90th General Assembly · In committeeVery similar
- HF 2216 Modifying provisions relating to the additional property tax credit for elderly persons an…89th General Assembly · In committeeVery similar
Matched by wording or an identical title.