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Senate committee approves SB263 to raise Homestead Credit by $100
Summary
Senators passed SB263, as amended, to increase the Homestead Credit by $100. Sponsor Senator Steve Crow said the Homestead Credit Trust Fund from a 1990 voter action can sustain the increase; the committee adopted an amendment adding cosponsors before passing the bill by voice vote.
The Senate Revenue & Tax Committee approved SB263, as amended, to increase the Homestead Credit by $100.
Sponsor Steve Crow (Senator, District 3) told the committee that the Homestead Credit trust fund, created after a 1990 voter-approved tax measure, is solvent and can sustain a $100 increase. "Back in 1990, the voters voted in a tax, and we have a trust fund for Homestead Credit. It is doing well, and I believe we need to give it back to the property owners. So we're gonna raise it for the first time a hundred dollars," Crow said, adding that DFA and the Bureau of Legislative Research (BLR) reviewed the proposal.
The committee first adopted an amendment that added cosponsors; Senator Crow moved to adopt the amendment, Senator Boyd seconded, and the amendment was approved by voice vote. Crow then moved to pass SB263 as amended; Senator Caldwell seconded. The committee approved the bill by voice vote with no recorded roll call.
No members of the public spoke for or against SB263 during the meeting. The transcript does not list the specific cosponsors added by amendment.
