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Bill would let homeowners holding residences in LLCs, trusts claim property tax rebate
Summary
House Bill 874 would allow owners whose primary residence is titled in an entity — such as an LLC or trust — to claim the property tax rebate enacted last session; the Department of Revenue said administration will require form and technology changes and a fiscal note is pending.
Lawmakers heard nearly three hours of testimony and questions on House Bill 874, which would extend the state’s property tax rebate to homeowners whose residences are owned by an entity such as an LLC, trust or other legal owner types.
Sponsor Representative Greg Schillinger explained that the bill is intended to include “hardworking or retired individuals” who were excluded from the prior rebate because title to their home was held in an entity. "...they are just as deserving and should be given the opportunity," the sponsor said.
The bill text circulated and an amendment summary read by committee staff clarify eligibility…
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