CO HB1253

Increases income eligibility limits for real property tax and heat/fuel expense assistance grants for 2013 from $12,313 to $28,000 for individuals and from $16,205 to $32,000 for married couples.

Establishes higher grant amounts for individuals earning more than $10,040 and married couples earning more than $13,932, with those above the new thresholds receiving flat minimum grants of $227 for property tax assistance and $73 for heat/fuel assistance.

For individuals and couples below the higher income thresholds in 2013, maintains the prior formula of $600 reduced by 10% of income exceeding $6,313 (individuals) or $10,205 (married couples) for property tax grants.

For 2014 and later years, returns to prior law formulas adjusted for inflation based on 2012 amounts.

Takes effect 90 days after final adjournment of the legislative session (August 8, 2012) unless subject to voter referendum approval in November 2012.