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Bill

S 1155

A bill to amend the Trafficking Victims Protection Act of 2000 to make technical corrections.

119th Congress Introduced by Kirsten Gillibrand and 1 co-sponsor

Bill S 1155 offers property tax exemptions for seniors aged 60 and over, easing their financial burden and promoting housing stability and affordability.

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WeVote Research Nonpartisan
Bill Summary · S 1155

Summary of Bill S 1155

Bill Overview

  • Bill Number: S 1155
  • Title: Relates to establishing a real property tax exemption for certain persons sixty years of age or over
  • Status: Referred to Local Government
  • Introduced Date: January 08, 2025
  • Classification: Bill

Purpose and Intent

Bill S 1155 aims to provide financial relief to senior citizens by establishing a real property tax exemption for individuals aged sixty years and older. The intent of the bill is to alleviate the financial burden of property taxes on older adults, thereby promoting housing stability and affordability for this demographic.

Key Provisions

  • Tax Exemption: The bill proposes a real property tax exemption specifically for individuals who are sixty years of age or older.
  • Eligibility Criteria: While the specific eligibility criteria are not detailed in the provided information, it is common for such exemptions to consider factors such as income level, residency status, and the nature of the property owned.
  • Implementation Timeline: The bill has been introduced and referred to the Local Government committee for further consideration. The timeline for implementation will depend on the legislative process and any amendments made during committee discussions.

Impact

  • Affected Population: The primary beneficiaries of this bill would be senior citizens aged sixty and over, who may face financial challenges related to property taxes.
  • Potential Benefits: By reducing or eliminating property tax obligations, the bill could help seniors retain their homes, improve their financial security, and enhance their quality of life.
  • Local Government Considerations: Local governments will need to assess the fiscal implications of implementing this exemption, including potential impacts on revenue from property taxes.

Legislative Actions

  • Date of Action: January 08, 2025
  • Current Status: The bill has been referred to the Local Government committee for review and discussion. Further actions will depend on the committee's recommendations and subsequent legislative processes.

Related Bills

  • S 4362 (prior-session): A related bill from a previous session that may have addressed similar issues regarding property tax exemptions for seniors.
  • S 4991 (prior-session): Another related bill from a prior session, potentially offering insights or precedents relevant to the current legislation.

This summary provides an overview of Bill S 1155, highlighting its purpose, key provisions, and potential impact on senior citizens and local governments. Further developments will be monitored as the bill progresses through the legislative process.

Compiled from official sources — confirm details with the bill’s official record.

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