HB 2639 - DIGEST

(SUBSTITUTED FOR - SEE 1ST SUB)

      Requires the department of revenue to conduct a study of the property tax exemption for nonprofit homes for the aging.

      Provides that a for-profit home which converts to nonprofit status after the effective date of the act may not receive the exemption for five years.

      Provides that the combined disposable income threshold of twenty-two thousand dollars or less shall be effective for taxes levied for collection in 1993 and thereafter.