MontanaBill would adjust tax credits for elderly homeowners and renters
If enacted, Montana would use a $14,100 household-income subtraction, a possible credit of up to $1,400, and yearly inflation adjustments for eligible elderly homeowners and renters.
What it does
For the elderly homeowner and renter credit, household income would be calculated after subtracting $14,100 from total household income.
Eligible elderly homeowners and renters could receive a credit of up to $1,400, with a phaseout schedule applying from $35,000 to under $50,000 in household income.
Each year, the Department of Revenue would adjust the credit's income thresholds and maximum amount for inflation, starting with the following tax year.
Argument forA larger, inflation-adjusted credit could reduce tax bills or increase refunds for eligible elderly homeowners and renters.
Argument againstBecause excess credits must be refunded, the proposed higher maximum could reduce Montana income-tax collections when eligible claims exceed tax owed.
More detail
The bill would calculate household income by subtracting $14,100 from total household income. The rule would apply to people claiming Montana's residential property tax credit for elderly homeowners and renters. The income calculation would use income received by all people in the household. The credit program's existing income definitions and exclusions would otherwise apply. The bill would apply to income tax years beginning after December 31, 2024, if enacted and effective.
The bill would set the credit's maximum at $1,400 and use a phaseout schedule for households earning $35,000 or more but less than $50,000. The amounts would apply to eligible claimants who own, rent, or both own and rent their homestead. The credit would still be based on property taxes billed or 15% of rent, as applicable. The supplied passage does not show the full percentage table, so it does not establish the exact credit at each income level. Any credit above the claimant's Montana income-tax liability would be refundable. The proposed rules would apply to income tax years beginning after December 31, 2024, if enacted and effective.
The Department of Revenue would adjust the household-income amounts and maximum credit each year for inflation. The adjustment would cover the income thresholds in the credit schedule and the $1,400 maximum credit. The department would round income thresholds to the nearest $100 and the maximum credit to the nearest $10. The resulting amounts would become effective for the following tax year. The department would make the calculation by November 1 each year, with the adjusted amounts applying in the following tax year.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jul 23(H) Veto OverrideLatest
- Jun 21(H) Veto Override Vote in Progress
- Jun 19(H) Vetoed by Governor Greg GianforteMajor
- Jun 10(H) Transmitted to GovernorTo Governor
- Jun 9(S) Signed by PresidentPassed Senate
- Jun 2(H) Signed by SpeakerPassed House
- Apr 29(H) Returned from Enrolling
- Apr 28(H) Sent to Enrolling
- Apr 25(H) 3rd Reading Senate Amendments
- Vote recorded Do Concur. Result: pass.Lower
- Apr 25(H) Scheduled for 3rd ReadingMinor
- Apr 24(H) 2nd Reading Senate AmendmentsMinor
- Vote recorded Do Concur. Result: pass.Lower
- Apr 24(H) Scheduled for 2nd ReadingMinor
- Apr 22(S) Returned to House with Amendments
- Apr 18(S) 3rd Reading
- Vote recorded Do Concur. Result: pass.Upper
- Apr 18(S) Scheduled for 3rd ReadingMinor
- Apr 17(S) Committee Report - (S) Finance and Claims
- Apr 17(H) Revised Fiscal Note Printed
- Apr 16(S) Committee Executive Action - (S) Finance and Claims
- Vote recorded be_concurred_in. Result: pass.Upper
- Apr 16(H) Revised Fiscal Note Signed
- Apr 16(H) Revised Fiscal Note ReceivedMinor
- Apr 14(S) Hearing - (S) Finance and Claims
- Apr 14(H) Revised Fiscal Note Requested
- Apr 12(S) Rereferred to Committee - (S) Finance and ClaimsMinor
- Vote recorded Do Concur. Result: pass.Upper
- Apr 12(S) 2nd ReadingMinor
- Apr 12(S) Scheduled for 2nd ReadingMinor
- Apr 9(S) Committee Report - (S) Taxation
- Vote recorded be_concurred_in_as_amended. Result: pass.Upper
- Apr 9(S) Committee Executive Action - (S) Taxation
- Apr 4(S) Hearing - (S) Taxation
- Apr 1(S) 1st Reading
- Apr 1(S) Referred to Committee - (S) TaxationMinor
- Mar 31(H) Transmitted to Senate
- Vote recorded Do Pass. Result: pass.Lower
- Mar 31(H) 3rd Reading
- Mar 29(H) Committee Report - (H) Appropriations
- Mar 28(H) Committee Executive Action - (H) Appropriations
- Vote recorded do_pass. Result: pass.Lower
- Mar 25(H) Hearing - (H) Appropriations
- Vote recorded Do Pass. Result: pass.Lower
- Mar 25(H) Rereferred to Committee - (H) AppropriationsMinor
- Mar 25(H) 2nd ReadingMinor
- Mar 21(H) Committee Report - (H) Taxation
- Vote recorded do_pass. Result: pass.Lower
- Mar 21(H) Committee Executive Action - (H) Taxation
- Mar 20(H) Hearing - (H) Taxation
- Mar 18(H) Fiscal Note Printed
- Mar 18(H) Fiscal Note Signed
- Mar 17(H) 1st Reading
- Mar 17(H) Fiscal Note ReceivedMinor
- Mar 15(H) Hearing - (H) Taxation
- Mar 7(H) Referred to Committee - (H) TaxationMinor
- Mar 5(H) Fiscal Note Requested
- Mar 5(H) Introduced
- Mar 4(LC) Draft Delivered to Requester
- Feb 26(LC) Draft Ready for Delivery
- Feb 26(LC) Draft in Assembly
- Feb 26(LC) Draft in Final Drafter Review
- Feb 25(LC) Draft in Input/Proofing
- Feb 17(LC) Draft in Edit
- Feb 17(LC) Draft in Legal Review
- Feb 4(LC) Draft Taken Off Hold
- 2024
- Dec 8(LC) Draft On Hold
- Dec 8(LC) Drafter AssignedIntroduced
Taxes & BudgetHousingVeterans