Bill

Bill > HF168


MN HF168

MN HF168
Process for seniors to receive an advance credit of the homestead credit refund established, and advance credit established.


summary

Introduced
02/10/2025
In Committee
02/10/2025
Crossed Over
Passed
Dead

Introduced Session

94th Legislature 2025-2026

Bill Summary

A bill for an act relating to taxation; property; property tax refund; establishing a process for seniors to receive an advance credit of the homestead credit refund; establishing the advance credit; amending Minnesota Statutes 2024, sections 273.1392; 273.1393; 275.065, subdivision 3; 276.04, subdivision 2; 290A.03, subdivision 13, by adding subdivisions; proposing coding for new law in Minnesota Statutes, chapters 273; 290A.

AI Summary

This bill establishes an advance homestead credit program specifically designed for senior citizens in Minnesota. The program allows eligible seniors (defined as those who are at least 65 years old, or in a married couple where one spouse is at least 65 and the other is at least 62) to receive an advance credit on their property taxes. The credit amount will be equal to 50 percent of the homestead credit refund the property owner received in the previous year. The county auditor will apply this credit to the first half of the property tax payment, and if the credit exceeds that amount, the payment will be reduced to zero. The state will reimburse local taxing jurisdictions for these tax reductions, with payments made in October and December of the tax payable year. To participate, seniors must apply when filing their homestead credit refund claim and attest that they intend to continue occupying the same homestead in the following year. If a senior receives more in advance credits than they are eligible for, they will be required to repay the difference. This program is set to become effective for property taxes payable in 2027.

Committee Categories

Budget and Finance

Sponsors (11)

Last Action

Author added Zeleznikar (on 02/17/2025)

bill text


bill summary

Loading...

bill summary

Loading...
Loading...