Substitute Senate Bill No. 140 Summary

• Expands property tax relief eligibility to include owners of real property held in trust, provided the owner and spouse are the grantor and beneficiary of such trust.

• Maintains eligibility for homeowners age 65 or older, surviving spouses age 50 or older whose spouse previously qualified, and individuals under 65 with permanent total disability benefits from Social Security or government retirement plans.

• Sets income limits at $16,200 for unmarried homeowners and $20,000 for married couples, adjusted annually based on Social Security inflation adjustments rounded to the nearest $100.

• Excludes a spouse's Social Security income from qualifying income calculations if the spouse resides in a state-funded health care or nursing home facility under Title XIX Medicaid.

• Allows legally separated individuals to apply as unmarried persons if separation was finalized by December 31 of the preceding year.