Bill > HB1134

This bill modifies the "circuit breaker" tax credit by increasing the maximum upper limit and property tax credit amounts. Specifically, it increases the maximum upper limit for the property tax credit from $27,500 to $38,200 for all calendar years beginning on or after January 1, 2024, and from $30,000 to $42,200 for homesteads owned and occupied for the entire year by the claimant. Additionally, it increases the maximum property tax or rent equivalent credit from $1,100 to $1,550, as adjusted for inflation, for all calendar years beginning on or after January 1, 2024.