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Senate Bill 0223

Senate Bill 0223

ARCHIVE (2010)

Latest Information

DIGEST OF SB 223 (Updated March 4, 2010 9:05 pm - DI 73)

Property taxes. Provides that the form prescribed by the department of local government finance (DLGF) to claim the mortgage deduction and the instructions for the form must both include a statement specifying that a person is not entitled to the deduction unless the person has a balance on the person's mortgage or contract indebtedness (including any home equity line of credit) that is the basis for the deduction. Requires the statement to specify the penalties for perjury. Requires the DLGF to develop a notice that must be displayed in the office of each county auditor concerning the application for the mortgage deduction. Indicates that mortgages, contracts, memoranda, and home equity lines of credit must be recorded to be eligible for a mortgage deduction.
    Current Status:
    Law Enacted
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