House Bill No. [insert bill number] introduces the Housing Fairness Income Tax Credit in Montana, designed to provide financial relief to taxpayers who pay property taxes or rent-equivalent property taxes. The bill defines key terms such as "claim period," "claimant," "gross rent," and "household income," and sets eligibility criteria, requiring individuals to have lived in Montana for at least nine months, occupied a qualified residence for at least seven months, and have a household income below $150,000. Taxpayers can only claim either the new Housing Fairness Property Tax Credit or the existing Residential Property Tax Credit for the Elderly, but not both. The credit amount is calculated based on property taxes billed or rent-equivalent taxes paid, adjusted by household income, and claims must be submitted with tax returns or by April 15 for non-filers.

The bill also amends existing laws related to property tax notifications and appeals, specifying that notices to property owners are only required when there are changes in ownership, classification, or valuation. These notices must include information about available property tax assistance programs, including the new credit. Additionally, the bill outlines the objection process for property owners regarding appraisals or classifications, establishes a review process for certain tax credits every eight years starting in 2025, and clarifies that misinformation in notices does not invalidate them. The effective date for the new Housing Fairness Property Tax Credit is set for January 1, 2026, applicable to claims for income tax years beginning on or after that date.

Statutes affected:
LC Text: 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(1): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(10): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(11): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(12): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(2): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(3): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(4): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(5): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(6): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(7): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(8): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1(9): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_1: 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_2(1): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_2(2): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_2(3): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_2(4): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_2(5): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_2(6): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_2(7): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_2: 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341