HB 61

Bill Subjects

Aged Persons And Aging Disabilities And The Disabled Effective Dates, Delayed Fiscal Note Local Mandate Taxation Taxation, Property

Abstract

Amend KRS 132.810 to remove the requirement that the homestead exemption be construed to mean $6,500 in terms of the purchasing power of the dollar in 1972 and the cost-of-living indexing requirement; require the amount of the homestead exemption to be 50% of the first $250,000 in assessed value for qualifying real property; EFFECTIVE only upon the ratification by voters of an amendment to Section 170 of the Kentucky Constitution.