Bill > SB170

This bill revises the elderly homeowner/renter income tax credit in Montana. Key provisions include: 1. Increasing the household income threshold for the credit from $35,000 to $45,000, and providing a graduated reduction in the credit amount for households with income between $30,000 and $45,000. 2. Increasing the maximum credit amount from $1,000 to $1,200. 3. Allowing the credit to be claimed even if the taxpayer has no taxable income under the state's individual income tax. 4. Applying the changes retroactively to tax years beginning after December 31, 2018. The bill aims to provide greater tax relief to elderly homeowners and renters in Montana by expanding the income eligibility and increasing the maximum credit amount.

Budget and Finance

http://laws.leg.mt.gov/legprd/LAW0210W$BSIV.ActionQuery?P_BILL_NO1=170&P_BLTP_BILL_TYP_CD=SB&Z_ACTION=Find&P_SESS=20191