DE HB29

Increases the maximum elderly property tax credit from $500 to $750 per qualified property owned by persons 65 years or older.

The credit remains the lesser of 50% of school property tax after exemptions or the new $750 maximum amount.

Maintains the $13,000,000 annual allocation to the Elderly Property Tax Relief and Education Expense Fund, with provisions for additional transfers if claims exceed this amount.

Local school boards retain authority to authorize the credit through majority vote or alternatively use allocated funds for education-related expenses including computer hardware, library resources, and minor capital improvements.