If enacted, S0091 will modify the existing definitions within the property tax relief framework, providing clearer guidelines on who can claim these benefits. This change is likely to have implications for potentially increasing the number of eligible claimants who receive assistance, particularly among seniors and those with disabilities. The amendment aims to make the process more accessible for qualified applicants while preventing ineligible individuals from claiming relief, thereby tightening the oversight on property tax exemptions and relief.
Summary
Bill S0091, titled 'Property Tax Relief,' aims to amend existing laws regarding property tax relief in the state of Rhode Island. It specifically focuses on defining eligibility for homeowners and renters who are senior citizens aged 65 or older and disabled individuals. The bill lays out criteria for claimants that must be fulfilled to qualify for property tax relief, ensuring that individuals receiving social security disability benefits or veterans' affairs benefits can apply. A significant addition to the bill is the requirement for proof of such benefits as a part of the tax relief application process.
Contention
The bill may face scrutiny regarding its definition and verification methods for eligibility, especially concerning the disabled category. Some lawmakers might argue that requiring proof of benefits from social security or veterans' services could introduce additional barriers for applicants. However, proponents may argue that this requirement is essential to protect state revenue from fraudulent claims. Overall, the bill represents a significant shift in the property tax relief structure, potentially igniting debates regarding the balance between adequate support for vulnerable populations and the state's fiscal responsibilities.
House Substitute for SB 300 by Committee on Taxation - Modifying income tax rates for individuals, increasing the standard deduction and the Kansas personal exemption, increasing the income limit for an income tax subtraction modification for social security income, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the privilege tax normal tax rate, abolishing the local ad valorem tax reduction fund and the county and city revenue sharing fund, providing for certain transfers to the special city and county highway fund and decreasing the rate of ad valorem tax imposed by a school district.
Excluding social security payments from household income and expanding eligibility related to increased property tax homestead property tax refund claims.
Individual income tax: property tax credit; credit for disabled veterans or widow or widower of disabled veterans who rent or lease a homestead; increase. Amends secs. 506, 520, 522 & 530 of 1967 PA 281 (MCL 206.506 et seq.).