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 "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 determined based on property taxes billed or rent-equivalent taxes paid, with a formula that considers household income.

Additionally, the bill amends various sections of the Montana Code Annotated (MCA) to improve property tax notice requirements and appraisal review processes. It mandates that property owners receive notifications regarding changes in ownership, classification, or valuation, and includes information about available property tax assistance programs, including the new credit. The bill also establishes procedures for contesting appraisals and classifications, ensuring transparency and communication between taxpayers and the department. Furthermore, it mandates a review of specific tax credits every eight years, including the new Housing Fairness Property Tax Credit, and clarifies that taxpayers cannot claim both the new credit and the residential property tax credit for the elderly. The effective date for the new credit is set for January 1, 2026.

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(10): 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(8): 15-6-240, 15-6-302, 15-7-102, 15-16-101, 15-17-125, 15-30-2303, 15-30-2341
HB0154_2(9): 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