Bill No.: SF0053                  Drafter:  MQ

LSO No.:  09LSO-0356              Effective Date:

Enrolled Act No.:  SEA0083

Chapter No.:       176

Prime Sponsor:     Senator Jennings

Catch Title:       Property tax-deferral program.

Subject:  Provides requirements for qualification for the deferral of property tax collection.

Summary/Major Elements:

· Current law provides for a qualified taxpayer to defer up to ½ of the property taxes owed on his principal residence if the county has adopted the property tax deferral program. A taxpayer may qualify for the deferral by meeting one of several alternative criteria. 

· Under current law, one alternative provides that a taxpayer may qualify for the deferral if his income does not exceed a maximum gross monthly household income at or below 150% of the federal poverty level for a household of 4.

· This bill changes the qualified income level from a maximum of 150% of the federal poverty level for a household of 4 to a maximum of 250% of the federal poverty level.

· The bill also makes more explicit that a taxpayer may also qualify for the deferral under any one of the following alternative criteria:

o The property owner is over the age of 62;

o The owner has a disability; or

o The owner purchased the property at least 10 years before deferral year.