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2008 SESSION

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SJ 81 Homeowners; Dept of Tax. to study implications of income tax credit based upon property taxes.

Introduced by: John C. Miller | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Study; income tax credits for certain homeowners based upon real property taxes and annual income; report.  Requests the Department of Taxation to study implications of a state income tax credit for homeowners with annual real property taxes exceeding a certain percentage of their annual incomes. In conducting its study, the Department of Taxation shall (i) examine state constitutional and statutory issues regarding real property tax exemptions, (ii) study the effectiveness and efficiency of local real property tax relief programs, (iii) study thresholds for real property tax liability used by other states for triggering eligibility for state income tax credits or other state assistance, (iv) consider the percentage of annual income that annual real property taxes would have to exceed for purposes of determining eligibility for state income tax credits, (v) examine the ability of low and moderate income homeowners to pay real property taxes, and (vi) consider such other issues as it deems appropriate.

FULL TEXT

• 01/09/08  Senate: Prefiled and ordered printed; offered 01/09/08 086538284  pdf
• 01/25/08  Senate: Committee substitute printed 087309275-S1  pdf

HISTORY

• 01/09/08  Senate: Prefiled and ordered printed; offered 01/09/08 086538284
• 01/09/08  Senate: Referred to Committee on Rules
• 01/25/08  Senate: Committee substitute printed 087309275-S1
• 01/25/08  Senate: Reported from Rules with substitute by voice vote
• 01/28/08  Senate: Reading waived (40-Y 0-N)
• 01/29/08  Senate: Read second time
• 01/29/08  Senate: Reading of substitute waived
• 01/29/08  Senate: Committee substitute agreed to 087309275-S1
• 01/29/08  Senate: Engrossed by Senate - committee substitute SJ81S1
• 01/30/08  Senate: Read third time
• 01/30/08  Senate: Agreed to by Senate by voice vote
• 01/30/08  Senate: Communicated to House
• 02/11/08  House: Placed on Calendar
• 02/11/08  House: Referred to Committee on Rules
• 03/03/08  House: Left in Rules