Bill > A09649

This bill creates an enhanced real property tax circuit breaker credit. The key provisions include: 1. Defining a "qualified taxpayer" as a resident individual of a city with a population over one million, who has occupied the same residence for at least six months of the taxable year, and is required or chooses to file a state tax return. 2. Establishing criteria for calculating "household gross income" and "qualifying real property taxes" that can be claimed for the credit. 3. Providing a sliding scale of credit percentages based on the taxpayer's household gross income, with higher incomes receiving a lower percentage of the excess real property taxes as a credit. 4. Limiting the credit to households with gross income below $200,000 and setting other eligibility requirements related to property use and occupancy. 5. Outlining the administration of the credit, including provisions for filing claims, treatment of overpayments, and reporting requirements.