Authorizes cities having a population of one million or more to provide a rebate of a portion of the real property taxes on owner occupied residential real property

Authorizes cities having a population of one million or more to provide a rebate during a specified city fiscal year of a portion of the real property taxes on owner occupied 1, 2, 3, 4, 5 or 6 family residential real property, or residential real property held in the condominium or cooperative form of ownership.