92nd General Assembly Summary of HB4083    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
OSTERMAN-CURRIE-CURRY,JULIE-HULTGREN-FRANKS, FEIGENHOLTZ, 
   COLVIN, LINDNER AND BLACK.

Senate Sponsors:
WALSH,T-OBAMA-VIVERITO

Short description: 
SR CIT TAX DEFER-INCOME & AGE                                              

Synopsis of Bill as introduced:
        Amends the Senior Citizens Real Estate Tax Deferral Act.  Changes      
   the age of eligibility for a deferral from 65 to  62.   Increases  the      
   household  income  eligibility  level from $25,000 per year to $35,000      
   per year.  Effective immediately.                                           
          FISCAL NOTE (Department of Revenue)                                  
          The additional population would increase the cost of the             
          current program by $2.2 million per year, to a total of              
          $5.8 million per year. These funds will, however, be repaid          
          to the State at a statutorily-imposed interest rate of 6%,           
          upon the death of the homeowner, or any transfer of the              
          property.                                                            
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 


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