Bill S.269, introduced by Senator Chittenden, aims to amend the definition of household income for the purposes of calculating the homestead property tax credit and renter credit in Vermont. The key change proposed in this bill is the exclusion of Supplemental Security Income (SSI) payments from the definition of household income. This amendment is intended to provide financial relief to individuals receiving SSI by ensuring that these payments do not negatively impact their eligibility for tax credits. The bill also modifies the language regarding the definition of "household" to clarify that it includes "the other persons who" resided with the individual, rather than "such other persons as."

Additionally, the bill specifies that the act will take effect retroactively on January 1, 2026, and will apply to taxable years beginning on or after that date. This retroactive application is significant as it ensures that individuals who qualify for the exclusion of SSI payments from their household income will benefit from the changes in their tax calculations starting from the specified date. Overall, S.269 seeks to enhance the financial support available to vulnerable populations by adjusting the criteria for tax credits related to property taxes.

Statutes affected:
As Introduced: 32-6061