Senate Bill No. 365

(REPRINTED WITH ADOPTED AMENDMENTS)
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Senate Bill No. 365-Senator Rawson

May 7, 1997
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Referred to Committee on Taxation

SUMMARY--Revises provisions governing assistance for property taxes provided to certain older persons. (BDR 32-101)

FISCAL NOTE: Effect on Local Government: No.

Effect on the State or on Industrial Insurance: Yes.

EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.

AN ACT relating to taxation; increasing and providing for the adjustment of the amount of household income allowed for a senior citizen to qualify for a refund of a portion of the property tax on his primary residence; and providing other matters properly relating thereto.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

Section 1 NRS 361.833 is hereby amended to read as follows:
361.833 1. A senior citizen whose home is placed upon the secured or unsecured tax roll, who has owned the home and maintained it as his primary residence since July 1 immediately preceding the filing of his claim and whose household income is [not more than $19,100] within one of the income ranges for which assistance is provided pursuant to this subsection is entitled to a refund of the property tax accrued against his home to the extent determined by the percentage shown opposite his household income range on the schedule below [:] , as that income range is adjusted pursuant to subsection 3:

PERCENT TAX
Percent of
INCOME RANGE Claimant's
If the Amount of Property Tax
Applicant's Household But Not Accrued Allowable
Income Is Over Over as Assistance Is

$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.

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