1299 AMH AAAA LONG1

HB 1299 - H AMD 006 -- Withdrawn 2/4/91

By Representative Holland

     On page 5, line 1, strike everything through line 15 and insert:

     "(5) (a) A person who otherwise qualifies under this section and has a combined disposable income of ((eighteen)) thirty thousand dollars or less shall be exempt from all excess property taxes; and

     (b) (i) A person who otherwise qualifies under this section and has a combined disposable income of eighteen thousand dollars or less but greater than fourteen thousand dollars shall be exempt from all regular property taxes on the greater of forty thousand dollars or thirty percent of the valuation of his or her residence, but not to exceed one hundred thousand dollars of the valuation of his or her residence; or

(ii) A person who otherwise qualifies under this section and has a combined disposable income of fourteen thousand dollars or less but greater than twelve thousand dollars shall be exempt from all regular property taxes on the greater of ((twenty-four)) forty thousand dollars or ((thirty)) forty percent of the valuation of his or her residence, but not to exceed ((forty)) one hundred thousand dollars of the valuation of his or her residence; or

     (((ii))) (iii) A person who otherwise qualifies under this section and has a combined disposable income of twelve thousand dollars or less shall be exempt from all regular property taxes on the greater of ((twenty-eight)) forty thousand dollars or fifty percent of the valuation of his or her residence, but not to exceed one hundred thousand dollars of the valuation of his or her residence."

EFFECT:  Expands senior citizen and disabled persons property tax exemption to include households with incomes up to $30,000.  Increases tax benefits over current program by $21.8 million.  Shifts $19.8 million onto other taxpayers and reduces local government property taxes by $2 million.