|Posted:||June 23, 2021 04:02 PM|
|From:||Representative Francis X. Ryan|
|To:||All House members|
|Subject:||Taxable Income and Property Tax Rent Rebate Program|
|In the near future, I intend on introducing legislation that will change how the Property Tax Rent Rebate program is calculated relative to annuity payments to coincide with our state tax laws regarding Personal Income Tax.
As many of you know, the Property Tax Rent Rebate (PTRR) program provides rebates on property tax or rent paid by income-eligible Pennsylvanians aged 65 and older; widows and widowers aged 50 and older; and people with disabilities age 18 and older. Current law states that gross income from all sources derived is used for the determination of eligibility for PTRR, something that typically will vary greatly from taxable income, particularly for our senior citizens. My legislation will simply amend current law to ensure only taxable income from annuities is used to calculate PTRR and thus coincide with tax liabilities for Personal Income Tax.
I respectfully ask for your support of this important legislation.
Introduced as HB1734