2
3
4
5
6
7 LONG TITLE
8 General Description:
9 This bill amends provisions related to property tax relief.
10 Highlighted Provisions:
11 This bill:
12 ▸ increases the household income threshold to qualify for a homeowner's or renter's
13 credit;
14 ▸ increases the maximum amount of a homeowner's or renter's credit; and
15 ▸ makes technical and conforming changes.
16 Money Appropriated in this Bill:
17 None
18 Other Special Clauses:
19 This bill provides a special effective date.
20 This bill provides a coordination clause.
21 Utah Code Sections Affected:
22 AMENDS:
23 59-2-1208, as last amended by Laws of Utah 2018, Chapters 405 and 456
24 59-2-1209, as last amended by Laws of Utah 2018, Chapters 405 and 456
25 Utah Code Sections Affected by Coordination Clause:
26 59-2-1803, Utah Code Annotated 1953
27
28 Be it enacted by the Legislature of the state of Utah:
29 Section 1. Section 59-2-1208 is amended to read:
30 59-2-1208. Amount of homeowner's credit -- Cost-of-living adjustment --
31 Limitation -- General Fund as source of credit.
32 (1) (a) Subject to [
33 beginning on or after January 1, [
34 or less than $52,260 may claim a homeowner's credit [
35
36 | [ | [ | ||
37 | [ | [ | ||
38 | [ | [ | ||
39 | [ | [ | ||
40 | [ | [ | ||
41 | [ | [ | ||
42 | [ | [ | ||
43 | [ | [ |
45 that a claimant's household income exceeds $9,799.
46 [
47 commission shall increase or decrease the household income eligibility [
48
49 threshold under Subsection (1)(b) by a percentage equal to the percentage difference between
50 the consumer price index for the preceding calendar year and the consumer price index for
51 calendar year [
52 (ii) For purposes of Subsection [
53 consumer price index as provided in Sections 1(f)(4) and 1(f)(5), Internal Revenue Code.
54 (2) An individual may not receive the homeowner's credit under this section if:
55 (a) the individual is claimed as a personal exemption on another individual's federal
56 income tax return during any portion of a calendar year for which the individual seeks to claim
57 the homeowner's credit under this section; or
58 (b) the individual is a dependent with respect to whom another individual claims a tax
59 credit under Section 24(h)(4), Internal Revenue Code, during any portion of a calendar year for
60 which the individual seeks to claim the homeowner's credit under this section.
61 (3) A payment for a homeowner's credit allowed by this section, and provided for in
62 Section 59-2-1204, shall be paid from the General Fund.
63 [
64
65
66 [
67 [
68 [
69 [
70 [
71 Section 2. Section 59-2-1209 is amended to read:
72 59-2-1209. Amount of renter's credit -- Cost-of-living adjustment -- Renter's
73 credit may be claimed only for rent that does not constitute a rental assistance payment --
74 Limitation -- General Fund as source of credit -- Maximum credit.
75 (1) (a) Subject to Subsections (2) and (3), for a calendar year beginning on or after
76 January 1, [
77 may claim a renter's credit [
78
79 in accordance with Subsection (1)(b).
80 | [ | [ credit | ||
81 | [ | [ | ||
82 | [ | [ | ||
83 | [ | [ | ||
84 | [ | [ | ||
85 | [ | [ | ||
86 | [ | [ | ||
87 | [ | [ |
89 that a claimant's household income exceeds $9,799.
90 [
91 commission shall increase or decrease the household income eligibility [
92 under [
93 difference between the consumer price index for the preceding calendar year and the consumer
94 price index for calendar year [
95 (ii) For purposes of Subsection [
96 consumer price index as provided in Sections 1(f)(4) and 1(f)(5), Internal Revenue Code.
97 (2) A claimant may claim a renter's credit under this part only for rent that does not
98 constitute a rental assistance payment.
99 (3) An individual may not receive the renter's credit under this section if the individual
100 is:
101 (a) claimed as a personal exemption on another individual's federal income tax return
102 during any portion of a calendar year for which the individual seeks to claim the renter's credit
103 under this section; or
104 (b) a dependent with respect to whom another individual claims a tax credit under
105 Section 24(h)(4), Internal Revenue Code, during any portion of a calendar year for which the
106 individual seeks to claim the renter's credit under this section.
107 (4) A payment for a renter's credit allowed by this section, and provided for in Section
108 59-2-1204, shall be paid from the General Fund.
109 (5) For calendar years beginning on or after January 1, 2007, a credit under this section
110 may not exceed the maximum amount allowed as a homeowner's credit for [
111
112 Section 3. Effective date.
113 This bill takes effect on January 1, 2020.
114 Section 4. Coordinating H.B. 497 with H.B. 24 -- Substantive amendment.
115 If this H.B. 497 and H.B. 24, Property Tax Exemptions, Deferrals, and Abatements
116 Amendments, both pass and become law, it is the intent of the Legislature that the Office of
117 Legislative Research and General Counsel shall prepare the Utah Code database for publication
118 by replacing the word "bracket" in Subsection 59-2-1803(1)(a) with "threshold".