Representative Sean Matthews has introduced House Bill 120, a bill that will create a new tax credit that aims to assist low income or elderly renters in acquiring affordable housing. For those low income or elderly renters that are not already receiving other subsidized housing benefits from the state or federal government, if the portion of rent attributable to the assumed property taxes exceeds a fixed amount in relation to their income, the renter can, under specified conditions, receive a credit of as much as $250 towards their rent.
The question is, like with the Earned Income Tax Credit, whether the credit is just taken off their taxes or if it is provided in a tax refund. Because if your income is low enough, it is possible you are not paying taxes in the first place, and thus a credit off taxes owed won’t help. But a refund would.
WHERE IS THE BILL? House Revenue & Finance 4/11/19
DEMOCRATIC SPONSORS – Matthews, McDowell, McBride, Ennis, Hansen, Paradee, Griffith, K.Johnson, Mitchell
REPUBLICAN SPONSORS – Delcollo
YES VOTES –
NO VOTES –