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Legislative Year: 2022 Change
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Bill Detail: HB22-1205

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Title Senior Housing Income Tax Credit
Status Senate Third Reading Passed - No Amendments (05/09/2022)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors C. Kennedy (D)
M. Weissman (D)
Senate Sponsors C. Hansen (D)
J. Coleman (D)
House Committee Finance
Senate Committee Finance
Date Introduced 02/08/2022
Summary

Section 1 of the bill creates a refundable income tax credit (credit)
that is available for the income tax year commencing on January 1, 2022,
for a qualifying senior, which means an individual who:
  • Is 65 years of age or older at the end of 2022;
  • Has federal adjusted gross income (AGI) that is less than or
equal to $75,000; and

  • Has not claimed a homestead property tax exemption for
the 2022 property tax year.
The amount of the credit is $1,000 for a qualifying senior with
federal AGI that is $25,000 or less. For every $500 of AGI above
$25,000, the amount of the credit is reduced by $10.
Section 2 requires the property tax administrator to provide reports
from counties related to taxpayers who are eligible for and actually claim
the homestead property tax exemption.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (04/26/2022) (most recent)  
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