[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 1271 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                S. 1271

 To amend the United States Housing Act of 1937 and the Housing Act of 
1959 to exclude from consideration as income rebates granted under New 
   Jersey law for the payment of State property taxes on homesteads.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                July 21 (legislative day, June 30), 1993

 Mr. Lautenberg (for himself and Mr. Bradley) introduced the following 
 bill; which was read twice and referred to the Committee on Banking, 
                       Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the United States Housing Act of 1937 and the Housing Act of 
1959 to exclude from consideration as income rebates granted under New 
   Jersey law for the payment of State property taxes on homesteads.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Homestead Rebate Exemption Act of 
1993''.

SEC. 2. EXCLUSION OF PROPERTY TAX REBATES FROM INCOME.

    (a) Amendment to the United States Housing Act of 1937.--Section 
3(b)(5) of the United States Housing Act of 1937 (42 U.S.C. 
1437a(b)(5)) is amended--
            (1) in subparagraph (F), by striking ``and'' at the end;
            (2) in subparagraph (G), by striking the period at the end 
        and inserting ``; and''; and
            (3) by adding at the end the following new subparagraph:
                    ``(H) any amounts received after January 1, 1993, 
                by the family in the form of a rebate for property 
                taxes paid on a homestead or paid through rent on a 
                homestead under the New Jersey `Homestead Property Tax 
                Rebate Act of 1990' (N.J.S.A., c. 54:4--8.57 to 54:4--
                8.66), or any successor provision.''.
    (b) Amendment to the Housing Act of 1959.--Section 202(c)(3) of the 
Housing Act of 1959 (12 U.S.C. 1701q(c)(3)) is amended by adding at the 
end the following: ``The term `monthly income' does not include any 
amounts received after January 1, 1993, by the person in the form of a 
rebate for property taxes paid on a homestead or paid through rent on a 
homestead under the New Jersey `Homestead Property Tax Rebate Act of 
1990' (N.J.S.A., c. 54:4--8.57 to 54:4--8.66), or any successor 
provision.''.

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