summary
Introduced
02/05/2026
02/05/2026
In Committee
02/10/2026
02/10/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Property Tax Code. Provides that, if an applicant or a member of the applicant's household incurs qualified medical expenses in the taxable year and withdraws moneys from a tax-deferred account to pay those qualified medical expenses, then the applicant may apply to the chief county assessment officer to deduct those amounts from the applicant's household income for the purpose of determining the applicant's eligibility for the low-income senior citizens assessment freeze homestead exemption. Effective immediately.
AI Summary
This bill amends the Property Tax Code to allow individuals applying for the low-income senior citizens assessment freeze homestead exemption to deduct certain medical expenses from their household income when determining eligibility. Specifically, if an applicant or a member of their household incurs "qualified medical expenses" (defined as expenses covered under Section 223 of the Internal Revenue Code) and withdraws money from a tax-deferred account, such as a retirement or health savings account, to pay for these expenses, they can apply to have these withdrawn amounts subtracted from their household income for the purpose of qualifying for the exemption. This change, effective for taxable year 2027 and beyond, aims to provide relief to seniors who may need to access these funds for medical needs.
Sponsors (1)
Last Action
Referred to Rules Committee (on 02/10/2026)
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