Bill > S470

This bill revises the criteria for determining the "base year," which is the tax year used to calculate property tax reimbursements for eligible claimants who relocate. Specifically, it clarifies that if an eligible claimant moves to a new homestead, their base year will continue to be the base year applicable to their former homestead, unless the new homestead is new construction, in which case the base year will be the first full tax year after its completion. The bill also specifies that if a claimant did not occupy their homestead in the base year but occupied another homestead, the reimbursement will be based on the property taxes assessed on the current homestead for the claimant's base year, even if they didn't reside there at that time. Furthermore, it clarifies that for eligible claimants who move, the property tax used for reimbursement calculations can include amounts paid by the previous owner of the new homestead, provided the claimant resides there by December 31st of the tax year. The bill also adjusts the effective date for immediate eligibility after a move to January 1, 2013.