673
$0 -- [$8,000] $12,700 90
[8,000 -- 12,700 80]
12,700 -- 14,800 [50] 80
14,800 -- 17,000 [25] 50
17,000 -- 19,100 [10] 25
19,100 -- 21,500 10
2. The amount of the refund must not exceed the amount of the accrued property tax or $500, whichever is less.
3. The monetary amounts shown for each income range in subsection 1 must be adjusted for each fiscal year by adding to each amount the product of the amount shown multiplied by the percentage increase in the Consumer Price Index from December 1997 to the December preceding the fiscal year for which the adjustment is calculated.
Sec. 2. NRS 361.835 is hereby amended to read as follows:
361.835 1. A senior citizen who has rented and maintained his primary residence in a home or on a mobile home lot since July 1 of the preceding calendar year and whose household income is [not more than $19,100] within one of the income ranges for which assistance is provided in NRS 361.833 is entitled to a refund as determined in accordance with the schedule [in NRS 361.833.] of income ranges as adjusted pursuant to that section.
2. The amount of the refund provided pursuant to subsection 1 must not exceed an amount equal to that portion of the rent which is rent deemed to constitute accrued property tax, even if the rental property is exempt from property tax.
Sec. 3. This act becomes effective on July 1, 1999.