Minnesota HF168 establishes a process for eligible seniors to receive an advance credit of the homestead credit refund.

Minnesota HF168 amends state statutes to establish a process for eligible seniors to receive an advance credit of the homestead credit refund. Eligible seniors, defined as those aged 65 or older or married couples where one spouse is 65 or older and the other is 62 or older, can elect to receive 50% of their previous year's homestead credit refund as an advance credit. The advance credit is applied to the first half of the property taxes payable in the following year. If the advance credit exceeds the first half payment, it is reduced accordingly.

Minnesota HF168 establishes a process for eligible seniors to receive an advance credit of the homestead credit refund.

Minnesota HF168 amends state statutes to establish a process for eligible seniors to receive an advance credit of the homestead credit refund. Eligible seniors, defined as those aged 65 or older or married couples where one spouse is 65 or older and the other is 62 or older, can elect to receive 50% of their previous year's homestead credit refund as an advance credit. The advance credit is applied to the first half of the property taxes payable in the following year. If the advance credit exceeds the first half payment, it is reduced accordingly.