Second Substitute H.B. 333

Representative Gage Froerer proposes the following substitute bill:

1 SENIOR CITIZEN'S HOMEOWNER'S CREDIT
2 2008 GENERAL SESSION
3 STATE OF UTAH
4 Chief Sponsor: Gage Froerer
5 Senate Sponsor: Wayne L. Niederhauser
6
7 LONG TITLE
8 General Description:
9 This bill amends provisions in the Property Tax Act to increase the household income
10 qualifying limits for both the homeowner's credit and the renter's credit.
11 Highlighted Provisions:
12 This bill:
13 . increases the household income qualifying limits for the homeowner's credit;
14 . increases the household income qualifying limits for the renter's credit; and
15 . makes technical changes.
16 Monies Appropriated in this Bill:
17 None
18 Other Special Clauses:
19 This bill takes effect on January 1, 2009.
20 Utah Code Sections Affected:
21 AMENDS:
22 59-2-1208, as last amended by Laws of Utah 2006, Chapter 363
23 59-2-1209, as last amended by Laws of Utah 2006, Chapter 363
24
25 Be it enacted by the Legislature of the state of Utah:

26 Section 1. Section 59-2-1208 is amended to read:
27 59-2-1208. Amount of homeowner's credit -- Cost-of-living adjustment --
28 Limitation -- General Fund as source of credit.
29 (1) (a) Subject to Subsection (2), for calendar years beginning on or after January 1,
30 [2007] 2009, a claimant may claim a homeowner's credit that does not exceed the following
31 amounts:
32 If household income is Homeowner's credit
33 $0 -- [$9,159] $9,640 [$798] $840
34 [$9,160] $9,641 -- [$12,214] $12,856 [$696] $733
35 [$12,215] $12,857 -- [$15,266] $16,068 [$597] $628
36 [$15,267] $16,069 -- [$18,319] $19,281 [$447] $470
37 [$18,320] $19,282 -- [$21,374] $22,497 [$348] $366
38 [$21,375] $22,498 -- [$24,246] $25,520 [$199] $209
39 [$24,247] $25,521 -- [$26,941] $28,356 [$98] $103
40 $28,357 -- $33,000 $50
41 (b) (i) For calendar years beginning on or after January 1, [2008] 2010, the commission
42 shall increase or decrease the household income eligibility amounts and the credits under
43 Subsection (1)(a) by a percentage equal to the percentage difference between the consumer
44 price index for the preceding calendar year and the consumer price index for calendar year
45 [2006] 2008.
46 (ii) For purposes of Subsection (1)(b)(i), the commission shall calculate the consumer
47 price index as provided in Sections 1(f)(4) and 1(f)(5), Internal Revenue Code.
48 (2) An individual who is claimed as a personal exemption on another individual's
49 individual income tax return during any portion of a calendar year for which the individual
50 seeks to claim a homeowner's credit under this section may not receive the homeowner's credit.
51 (3) The homeowner's credit allowed by this section, and provided for in Section
52 59-2-1204 , shall be derived from the General Fund and appropriate transfers made to effectuate
53 this credit.
54 Section 2. Section 59-2-1209 is amended to read:
55 59-2-1209. Amount of renter's credit -- Cost-of-living adjustment -- Limitation --
56 General Fund as source of credit -- Maximum credit -- Renter's credit may be claimed

57 only for rent that does not constitute a rental assistance payment.
58 (1) (a) Subject to Subsections (2) and (3), for calendar years beginning on or after
59 January 1, [2007] 2009, a claimant may claim a renter's credit for the previous calendar year
60 that does not exceed the following amounts:
61 If household income is Percentage of rent
62 allowed as a credit
63 $0 -- [$9,159] $9,640 9.5%
64 [$9,160] $9,641 -- [$12,214] 12,856 8.5%
65 [$12,215] $12,857 -- [$15,266] $16,068 7.0%
66 [$15,267] $16,069 -- [$18,319] $19,281 5.5%
67 [$18,320] $19,282 -- [$21,374] $22,497 4.0%
68 [$21,375] $22,498 -- [$24,246] $25,520 3.0%
69 [$24,247] $25,521 -- [$26,941] $28,356 2.5%
70 $28,357 -- $33,000 1.25%
71 (b) (i) For calendar years beginning on or after January 1, [2008] 2010, the commission
72 shall increase or decrease the household income eligibility amounts under Subsection (1)(a) by
73 a percentage equal to the percentage difference between the consumer price index for the
74 preceding calendar year and the consumer price index for calendar year [2006] 2008.
75 (ii) For purposes of Subsection (1)(b)(i), the commission shall calculate the consumer
76 price index as provided in Sections 1(f)(4) and 1(f)(5), Internal Revenue Code.
77 (2) A claimant may claim a renter's credit under this part only for rent that does not
78 constitute a rental assistance payment.
79 (3) An individual who is claimed as a personal exemption on another individual's
80 individual income tax return during any portion of a calendar year for which the individual
81 seeks to claim a renter's credit under this section may not receive a renter's credit.
82 (4) The renter's credit allowed by this section, and provided for in Section 59-2-1204 ,
83 shall be derived from the General Fund and appropriate transfers made to effectuate this credit.
84 (5) For calendar years beginning on or after January 1, [2007] 2009, a credit under this
85 section may not exceed the maximum amount allowed as a homeowner's credit for each
86 income bracket under Subsection 59-2-1208 (1)(a).
87 Section 3. Effective date.

88 This bill takes effect on January 1, 2009.