CO HB1086

Increases the maximum real property tax expense assistance grant for low-income seniors and disabled individuals from $600 to $700 for individual applicants, effective for grants claimed on or after January 1, 2012.

Raises the income threshold for individual applicants from $6,000 to $8,000 and reduces the income reduction factor from 10% to 5% of income above the threshold.

Increases the maximum grant for married couples from $600 to $700 and raises their income threshold from $9,700 to $15,000, while also reducing the income reduction factor from 10% to 5%.

Changes the inflation adjustment base year from 2008 to 2012 for all grant calculations beginning January 1, 2012, with subsequent years adjusted annually for inflation.

Becomes effective August 10, 2011, unless a referendum petition is filed, in which case it requires voter approval at the November 2012 general election.