Download Zipped Introduced WordPerfect HB0378S01.ZIP
[Status][Bill Documents][Fiscal Note][Bills Directory]
First Substitute H.B. 378
1
2
3
4
5
6
7 LONG TITLE
8 General Description:
9 This bill amends the Property Tax Act to amend the household income qualifying limits
10 of some claimants applying for certain property tax relief programs.
11 Highlighted Provisions:
12 This bill:
13 . for taxable year 2009, decreases a claimant's household income by $1,000 for a
14 dependent that the claimant is eligible to claim on the claimant's federal taxes for
15 purposes of qualifying for a homeowner's credit for a maximum household income
16 decrease of $1,000;
17 . for taxable year 2009, decreases a claimant's household income by $1,000 for a
18 dependent that the claimant is eligible to claim on the claimant's federal taxes for
19 purposes of qualifying for a renter's credit for a maximum household income
20 decrease of $1,000; and
21 . makes technical changes.
22 Monies Appropriated in this Bill:
23 None
24 Other Special Clauses:
25 This bill provides retrospective operation for a taxable year beginning on or after
26 January 1, 2009.
27 Utah Code Sections Affected:
28 AMENDS:
29 59-2-1208, as last amended by Laws of Utah 2006, Chapter 363
30 59-2-1209, as last amended by Laws of Utah 2006, Chapter 363
31
32 Be it enacted by the Legislature of the state of Utah:
33 Section 1. Section 59-2-1208 is amended to read:
34 59-2-1208. Amount of homeowner's credit -- Cost-of-living adjustment --
35 Limitation -- General Fund as source of credit -- Dependent credit.
36 (1) (a) Subject to [
37 or after January 1, 2007, a claimant may claim a homeowner's credit that does not exceed the
38 following amounts:
39 If household income is Homeowner's credit
40 $0 -- $9,159 $798
41 $9,160 -- $12,214 $696
42 $12,215 -- $15,266 $597
43 $15,267 -- $18,319 $447
44 $18,320 -- $21,374 $348
45 $21,375 -- $24,246 $199
46 $24,247 -- $26,941 $98
47 (b) (i) For calendar years beginning on or after January 1, 2008, the commission shall
48 increase or decrease the household income eligibility amounts and the credits under Subsection
49 (1)(a) by a percentage equal to the percentage difference between the consumer price index for
50 the preceding calendar year and the consumer price index for calendar year 2006.
51 (ii) For purposes of Subsection (1)(b)(i), the commission shall calculate the consumer
52 price index as provided in Sections 1(f)(4) and 1(f)(5), Internal Revenue Code.
53 (2) An individual who is claimed as a personal exemption on another individual's
54 individual income tax return during any portion of a calendar year for which the individual
55 seeks to claim a homeowner's credit under this section may not receive the homeowner's credit.
56 (3) The homeowner's credit allowed by this section, and provided for in Section
57 59-2-1204 , shall be derived from the General Fund and appropriate transfers made to effectuate
58 this credit.
59 (4) (a) Subject to Subsection (4)(b), for purposes of calculating a claimant's household
60 income to determine the amount of the claimant's homeowner's credit under Subsection (1), for
61 the taxable year that begins on January 1, 2009 and ends on December 31, 2009, a claimant's
62 household income shall be decreased by $1,000 for a dependent with respect to whom a
63 claimant is eligible to make a deduction as allowed as a personal exemption deduction on the
64 claimant's federal individual income tax return for the taxable year for which the household
65 income is calculated.
66 (b) For purposes of Subsection (4)(a):
67 (i) the maximum amount a claimant's household income may be decreased is $1,000;
68 and
69 (ii) "dependent" does not include the claimant or the claimant's spouse.
70 Section 2. Section 59-2-1209 is amended to read:
71 59-2-1209. Amount of renter's credit -- Cost-of-living adjustment -- Limitation --
72 General Fund as source of credit -- Maximum credit -- Renter's credit may be claimed
73 only for rent that does not constitute a rental assistance payment -- Dependent credit.
74 (1) (a) Subject to Subsections (2) [
75 after January 1, 2007, a claimant may claim a renter's credit for the previous calendar year that
76 does not exceed the following amounts:
77 If household income is Percentage of rent
78 allowed as a credit
79 $0 -- $9,159 9.5%
80 $9,160 -- $12,214 8.5%
81 $12,215 -- $15,266 7.0%
82 $15,267 -- $18,319 5.5%
83 $18,320 -- $21,374 4.0%
84 $21,375 -- $24,246 3.0%
85 $24,247 -- $26,941 2.5%
86 (b) (i) For calendar years beginning on or after January 1, 2008, the commission shall
87 increase or decrease the household income eligibility amounts under Subsection (1)(a) by a
88 percentage equal to the percentage difference between the consumer price index for the
89 preceding calendar year and the consumer price index for calendar year 2006.
90 (ii) For purposes of Subsection (1)(b)(i), the commission shall calculate the consumer
91 price index as provided in Sections 1(f)(4) and 1(f)(5), Internal Revenue Code.
92 (2) A claimant may claim a renter's credit under this part only for rent that does not
93 constitute a rental assistance payment.
94 (3) An individual who is claimed as a personal exemption on another individual's
95 individual income tax return during any portion of a calendar year for which the individual
96 seeks to claim a renter's credit under this section may not receive a renter's credit.
97 (4) The renter's credit allowed by this section, and provided for in Section 59-2-1204 ,
98 shall be derived from the General Fund and appropriate transfers made to effectuate this credit.
99 (5) For calendar years beginning on or after January 1, 2007, a credit under this section
100 may not exceed the maximum amount allowed as a homeowner's credit for each income
101 bracket under Subsection 59-2-1208 (1)(a).
102 (6) (a) Subject to Subsection (6)(b), for purposes of calculating a claimant's household
103 income to determine the amount of the claimant's renter's credit under Subsection (1), for the
104 taxable year that begins on January 1, 2009 and ends on December 31, 2009, a claimant's
105 household income shall be decreased by $1,000 for a dependent with respect to whom a
106 claimant is eligible to make a deduction as allowed as a personal exemption deduction on the
107 claimant's federal individual income tax return for the taxable year for which the household
108 income is calculated.
109 (b) For purposes of Subsection (6)(a):
110 (i) the maximum amount a claimant's household income may be decreased is $1,000;
111 and
112 (ii) "dependent" does not include the claimant or the claimant's spouse.
113 Section 3. Retrospective operation.
114 This bill has retrospective operation for a taxable year beginning on or after January 1,
115 2009.
[Bill Documents][Bills Directory]