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MN HF1506
Bill
Status
2/9/2023
Primary Sponsor
Dave Lislegard
Click for details
AI Summary
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Reduces the percentage of income claimants must pay toward property taxes before becoming eligible for homestead credit refunds across all income brackets by 0.1 to 0.5 percentage points
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Increases maximum state refund amounts from $2,770 to $3,360 for all household income levels
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Raises the income threshold for ineligibility from $113,150 to $125,081 for the homestead credit refund program
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Sets the statutory year for inflation adjustments to subdivision 2 as 2023, allowing future annual adjustments to income thresholds and maximum refunds
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Effective for claims based on property taxes payable in 2024 and following years, with inflation adjustment provisions effective for 2025 and following years
Legislative Description
Property tax refund provisions modified; co-pays reduced, thresholds reduced, and maximum refunds increased for homestead credit refund.
Last Action
Author added Myers
5/22/2023