View Amendment Current Amendment: 10 to Bill 4100

Reps. BRAWLEY, COBB-HUNTER, KING, GARVIN, MATTHEWS, K. JOHNSON, JL. JOHNSON, and RIVERS propose the following Amendment No.     to H.4100 as introduced by Ways & Means


EXPLANATION: Increases the Homestead Exemption by $25,000. Funding will be provided from the Pandemic Stabilization Fund.

Amend the bill, as and if amended, Part IB, Section 118, STATEWIDE REVENUE, page 529, paragraph 118.18, line 34, by striking /$500,000,000/ and inserting /$438,405,000/

Amend the bill further, as and if amended, Section 118, STATEWIDE REVENUE, page 531, paragraph 118.18, after line 33, by inserting appropriately numbered items to read:

/( ) R440- Department of Revenue

Homestead Property Tax Exemption Increase $61,595,000

( .)From the funds appropriated above for Homestead Property Tax Exemption,i n Fiscal Year 2021-2022, there is appropriated to the Trust Fund for Tax Relief an amount necessary to reimburse local governments for the amount exempted in subsection (B).

(B) Twenty-five thousand dollars of the fair market value of the dwelling place of a person is exempt, in addition to any amount already exempted, from county, municipal, school, and special assessment real estate property taxes in property tax year 2021 when the person:

(1) has been a resident of this State for at least one year and has reached the age of sixty-five years on or before December thirty-first;

(2) has been classified as totally and permanently disabled by a state or federal agency having the function of classifying persons; or

(3) is legally blind as defined in Section 43-25-20 and holds complete fee simple title or a life estate to the dwelling place. A person claiming to be totally and permanently disabled, but who has not been classified by one of the agencies, may apply to the state agency of Vocational Rehabilitation. The agency shall make an evaluation of the person using its own standards. /

Amend totals and titles to conform.