Analyst: DD Page 1 4/20/22
OFA Bill Analysis
SB 403
AN ACT REESTABLISHING FUNDING FOR THE HOMEOWNERS'
ELDERLY AND DISABLED CIRCUIT BREAKER TAX RELIEF
PROGRAM.
SUMMARY:
The bill makes changes to the Elderly Circuit Breaker Tax Relief
Program. It ties the tax breaks received by recipients to annual changes
in the national consumer price index. It also prevents proportionate
reduction of payments to municipalities for the revenue loss resulting
from the program. There has been no General Fund appropriation for
the program since FY 17.
The bill makes other minor and technical adjustments.
EFFECTIVE DATE: July 1, 2022
COMMITTEE ACTION
Appropriations Committee
Joint Favorable
Yea 50 Nay 0 (04/07/2022)