HB 2587

For purposes of homestead property tax deferral program for seniors and persons with disabilities, changes prohibition on homestead with outstanding deferred property taxes from being pledged as security for reverse mortgage to prohibition on homestead that is pledged as security for reverse mortgage from being granted deferral under program.

Status Chapter Number Assigned
Session 2019 Regular Session
Sponsors Mark Meek (Democrat) (Chief), Cedric Hayden (Republican)
Fiscal impact Has minimal fiscal impact
Revenue impact Revenue impact issued

Bill Text

Modifies the homestead property tax deferral program to prohibit homes pledged as reverse mortgage security from receiving deferral.

Original Bill Text

Sponsors#

Chief Sponsors: Mark Meek

Overview#

For purposes of homestead property tax deferral program for seniors and persons with disabilities, changes prohibition on homestead with outstanding deferred property taxes from being pledged as security for reverse mortgage to prohibition on homestead that is pledged as security for reverse mortgage from being granted deferral under program. Makes exception for certain homesteads to prohibition on reverse mortgages for participation in homestead property deferral program for seniors and persons with disabilities]. Takes effect on 91st day following adjournment sine die.

Legislative History

Date Chamber Action
2019-01-14 H First reading. Referred to Speaker's desk.
2019-01-15 H Referred to Human Services and Housing.
2019-02-25 H Public Hearing held.
2019-03-04 H Work Session held.
2019-03-11 H Work Session held.
2019-03-18 H Work Session held.
2019-03-20 H Work Session held.
2019-03-25 H Work Session held.
2019-04-01 H Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Revenue.
2019-04-01 H Referred to Revenue by order of Speaker.
2019-04-18 H Public Hearing held.
2019-05-08 H Work Session held.
2019-05-14 H Recommendation: Do pass.
2019-05-14 H Second reading.
2019-05-15 H Third reading. Carried by Meek. Passed.
2019-05-16 S First reading. Referred to President's desk.
2019-05-17 S Referred to Finance and Revenue.
2019-06-18 S Public Hearing and Work Session held.
2019-06-19 S Work Session held.
2019-06-29 S Recommendation: Do pass the A-Eng. bill.
2019-06-29 S Second reading.
2019-06-29 S Rules suspended. Third reading. Carried by Hass. Passed.
2019-06-30 H Speaker signed.
2019-07-02 S President signed.
2019-07-23 H Governor signed.
2019-08-01 H Chapter 591, (2019 Laws): Effective date September 29, 2019.

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