First Regular Session Sixty-eighth General Assembly STATE OF COLORADO INTRODUCED LLS NO. 11-0273.02 Jason Gelender HOUSE BILL 11-1086 HOUSE SPONSORSHIP Kefalas, Pabon SENATE SPONSORSHIP (None), House Committees Senate Committees Finance A BILL FOR AN ACT Concerning the real property tax expense assistance grant for low-income seniors and disabled individuals, and, in connection therewith, increasing both the amount of the grant and the maximum income limit for grant qualification. Bill Summary (Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://www.leg.state.co.us/billsummaries.) For grants claimed for years commencing on or after January 1, 2012, the bill increases the amount of the real property tax expense assistance grant for low-income seniors and disabled individuals and the maximum income limit for grant qualification as follows: For an individual, increases the grant from $600 reduced by 10% of the amount of the individual's income over $6,000, with the grant amount being annually adjusted for inflation from a base year of 2008, to $700 reduced by 5% of the individual's income over $8,000, with the grant amount being annually adjusted for inflation from a base year of 2012; and For 2 married individuals, increases the grant from $600 reduced by 10% of the amount of their income over $9,700, with the grant amount being annually adjusted for inflation from a base year of 2008, to $700 reduced by 5% of their income over $15,000, with the grant amount being annually adjusted for inflation from a base year of 2012. Be it enacted by the General Assembly of the State of Colorado: SECTION 1. 39-31-101 (2) (a) and (2) (b), Colorado Revised Statutes, are amended to read: 39-31-101. Real property tax assistance - eligibility - applicability - definitions. (2) Such grant shall be the amount of the general property taxes actually paid on the residence or the amount of taxes actually paid on a mobile home, plus any tax-equivalent payments computed pursuant to subsection (4) of this section, with respect to the rent of a trailer space during the year for which such grant is claimed, the amount of the specific ownership tax actually paid on a trailer coach, or the amount of the tax-equivalent payments, computed pursuant to subsection (4) of this section, actually made during the year for which such grant is claimed, but in no event may it exceed: (a) In the case of an individual: (I) For grants claimed for years commencing prior to January 1, 1999, five hundred dollars reduced by twenty percent of the amount by which the individual's income exceeds five thousand dollars; (II) For grants claimed for years commencing on or after January 1, 1999, but prior to January 1, 2008, six hundred dollars reduced by ten percent of the amount by which the individual's income exceeds five thousand dollars; and (III) For grants claimed for years commencing on or after January 1, 2008, but before January 1, 2012, six hundred dollars reduced by ten percent of the amount by which the individual's income exceeds six thousand dollars in 2008, and, each year thereafter, the amount for the prior year adjusted for inflation; and (IV) For grants claimed for years commencing on or after January 1, 2012, seven hundred dollars reduced by five percent of the amount by which the individual's income exceeds eight thousand dollars in 2012, and, each year thereafter, the amount for the prior year adjusted for inflation; (b) In the case of a husband and wife: (I) For grants claimed for years commencing prior to January 1, 1999, five hundred dollars reduced by twenty percent of their income over eight thousand seven hundred dollars; (II) For grants claimed for years commencing on or after January 1, 1999, but prior to January 1, 2008, six hundred dollars reduced by ten percent of their income over eight thousand seven hundred dollars; and (III) For grants claimed for years commencing on or after January 1, 2008, but before January 1, 2012, six hundred dollars reduced by ten percent of their income over nine thousand seven hundred dollars in 2008, and, each year thereafter, the amount for the prior year adjusted for inflation; and (IV) For grants claimed for years commencing on or after January 1, 2012, seven hundred dollars reduced by five percent of their income over fifteen thousand dollars in 2012, and, each year thereafter, the amount for the prior year adjusted for inflation. SECTION 2. Act subject to petition - effective date. This act shall take effect at 12:01 a.m. on the day following the expiration of the ninety-day period after final adjournment of the general assembly (August 10, 2011, if adjournment sine die is on May 11, 2011); except that, if a referendum petition is filed pursuant to section 1 (3) of article V of the state constitution against this act or an item, section, or part of this act within such period, then the act, item, section, or part shall not take effect unless approved by the people at the general election to be held in November 2012 and shall take effect on the date of the official declaration of the vote thereon by the governor.