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Senate Bill 0083


Senate Bill 0083

ARCHIVE (2000)

Latest Information

 

DIGEST OF INTRODUCED BILL


Tax credit for low income elderly homeowners. Provides a property tax credit to homestead owners who are at least 65 years of age and who have adjusted gross incomes of less than $30,000. Provides that the credit for an individual with no adjusted gross income is equal to one-half of the net property tax bill on the individual's homestead, and provides that the credit is phased out as the individual's adjusted gross income approaches $30,000. Provides that the property tax credit is payable from the property tax replacement fund. Appropriates money from the property tax replacement fund to pay for the property tax credits.
    Current Status:
     In Committee - first House
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