Excludes Supplemental Security Income payments from household income for tax credit calculations.

This bill amends the definition of "household income" to exclude Supplemental Security Income payments when calculating the homestead property tax credit and renter credit. It specifies that household income includes modified adjusted gross income, but excludes certain types of income such as alimony, gifts, and certain losses. The bill takes effect retroactively on January 1, 2026, and applies to taxable years beginning on or after that date.

Excludes Supplemental Security Income payments from household income for tax credit calculations.

This bill amends the definition of "household income" to exclude Supplemental Security Income payments when calculating the homestead property tax credit and renter credit. It specifies that household income includes modified adjusted gross income, but excludes certain types of income such as alimony, gifts, and certain losses. The bill takes effect retroactively on January 1, 2026, and applies to taxable years beginning on or after that date.