Bill
Bill > H0481
ID H0481
ID H0481Amends existing law to revise criteria for homes that are ineligible for the circuitbreaker program.
summary
Introduced
01/27/2022
01/27/2022
In Committee
03/17/2022
03/17/2022
Crossed Over
02/11/2022
02/11/2022
Passed
03/25/2022
03/25/2022
Dead
Signed/Enacted/Adopted
03/31/2022
03/31/2022
Introduced Session
2022 Regular Session
Bill Summary
PROPERTY TAX REDUCTION -- Amends existing law to revise criteria for homes that are ineligible for the circuitbreaker program.
AI Summary
This bill amends existing law to revise the criteria for homes that are ineligible for the "circuitbreaker" property tax reduction program in Idaho. Specifically, it increases the maximum assessed value threshold for a home to be eligible for the program from 125% to 150% of the county's median assessed value for homes receiving the homestead exemption. It also excludes veterans with a 100% service-connected disability or 100% disability rating from this assessed value threshold. The bill also requires the state tax commission to publish annual adjustments to the income limitations and reduction amounts for the program.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Revenue and Taxation Committee (H)
Last Action
Reported Signed by Governor on March 25, 2022 Session Law Chapter 230 Effective: Retroactive to 01/01/2022 (on 03/31/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2022/legislation/H0481/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2022/legislation/H0481.pdf |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2022/legislation/H0481SOP.pdf |
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