This bill amends the property tax fairness credit, for tax years beginning in 2025 or later by increasing the benefit base as follows:
1. For individuals filing as a head of household who have one child or dependent or for married individuals filing joint returns who have one child or dependent, the benefit base is increased to $3,250;
2. For individuals filing as a head of household who have more than one child or dependent or for married persons who have more than one child or dependent, the benefit base is increased to $4,000; and
3. For individuals 65 years of age or older, the benefit base is increased to $4,250. This bill also increases the maximum credit for an individual filing as a head of household or filing a joint return and who has a child or dependent to $2,000. This bill also requires the Department of Administrative and Financial Services, Bureau of Revenue Services to convene a working group to study the property tax fairness credit and make recommendations for how to make the credit easier to understand and simplify the process for applying for the credit. The working group consists of advocates for low-income and elderly individuals and municipal governments.

Statutes affected:
Bill Text LD 1665, SP 659: 36.5219