HB1832 Creates new income caps for the circuit breaker.
Sponsor: Levin, David (82) Effective Date:01/01/2001
CoSponsor: Pouche, Fred (30) LR Number: 4013L.01I
Last Action: 02/10/2000 - Referred: Ways and Means (H)
HB1832
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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BILL SUMMARIES

INTRODUCED

HB 1832 -- Income Tax:  Circuit Breaker

Co-Sponsors:  Levin, Pouche

Under current law, the senior citizen/disabled persons property
tax credit for state income taxes, commonly known as "circuit
breaker," has a maximum qualifying income level of $25,000 for a
single taxpayer and $27,000 for a married couple.  It also has a
maximum property tax credit of $750.  This bill increases these
maximums to $30,000, $40,000, and $2,000, respectively,
beginning with calendar year 2001 and thereafter.

The bill will become effective January 1, 2001.


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