Bill Number: S.B. 1575

            Mesnard Floor Amendment

            Reference to: printed bill

            Amendment drafted by: Molly Graver

 

 

1.    Updates the exemption amount of $3,000 to reflect the present-day exemption amount of $4,047 which is statutorily required to be increased based on the average annual percentage increase in the Gross Domestic Product price deflator.

2.    Updates the exemption amount of $50,000 for property used in trade or in business or for agricultural purposes to reflect the present-day amount of $185,811.

3.    Updates the total assessment limit and the household income limit to reflect the present-day amounts.

 

 

Fifty-fourth Legislature                                                  Mesnard

Second Regular Session                                                  S.B. 1575

 

MESNARD FLOOR AMENDMENT

SENATE AMENDMENTS TO S.B. 1575

(Reference to printed bill)

 

Page 4, line 34, strike "$3,000" insert "$4,047"

Line 35, strike "$20,000" insert "$27,498"

Line 36, strike "$3,000" insert "$4,047"

Line 41, strike "$20,000" insert "$27,498"

Page 5, line 19, strike "$25,000" insert "$33,722"

Line 22, strike "$30,000" insert "$40,456"

Page 7, line 28, strike "$50,000" insert "$185,811"

Amend title to conform

 

 

J.D. MESNARD

 

1575MESNARD0928

02/26/2020

09:28 AM

S: MG/kja

 

1575MESNARD0857

02/27/2020

08:57 AM

S: MG/kja