Bill > LD1541

Introduced Session

This bill amends the property tax stabilization for senior citizens program, which was limited to one property tax year, by: 1. Changing the benefit under the program to a complete exemption from property taxes, for property tax years beginning on or after April 1, 2027; 2. Specifying that an eligible individual is someone who is at least 65 years of age, or who will attain 65 years of age during the property tax year for which the exemption is requested, and has maintained a permanent residence in this State for at least 10 consecutive years prior to applying for the exemption; 3. Removing the requirement that an applicant apply every year for the exemption, instead requiring that the eligible individual file an affidavit declaring that the individual is still eligible for the exemption; 4. Allowing the transfer of the exemption only if the transferee jointly owns the homestead and is eligible under the program; and 5. Requiring the Office of Program Evaluation and Government Accountability, in 2030, to conduct a review of the program, considering: A. Whether the exemption fulfills its goal of decreasing the tax burden on senior residents of this State and allowing them to continue to reside in their homes; and B. Performance measures such as whether the program is fiscally sustainable and may be expanded or modified. The office is required to submit, by January 15, 2031, a report with its findings to the Government Oversight Committee and to the joint standing committee of the Legislature having jurisdiction over taxation matters, which may report out a bill related to the report to the 135th Legislature in 2031.

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Joseph Martin (R)*,  Billy Bob Faulkingham (R),  Trey Stewart (R), 

Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD) (on 05/21/2025)

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