HARRY HUGHES, Governor

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CREDIT UNDER THIS SECTION IS SOUGHT.

(6)  "FINAL TAX LIABILITY" MEANS THE TAX LIABILITY FOR
ANY PROPERTY TAX ON THE REAL PROPERTY OF A DWELLING LESS ANY
PROPERTY TAX CREDIT PROVIDED UNDER THIS SECTION.

(7)  (I) "GROSS INCOME" MEANS THE TOTAL INCOME FROM
ALL SOURCES FOR THE CALENDAR YEAR THAT IMMEDIATELY PRECEDES THE
TAXABLE YEAR, WHETHER OR NOT THE INCOME IS INCLUDED IN THE
DEFINITION OF GROSS INCOME FOR FEDERAL OR STATE TAX PURPOSES.

(II) "GROSS INCOME" INCLUDES:

1.  ANY BENEFIT UNDER THE SOCIAL SECURITY
ACT OR THE RAILROAD RETIREMENT ACT;

2.  THE AGGREGATE OF GIFTS OVER $300;

3.  ALIMONY;

4.  SUPPORT MONEY;

5.  ANY NONTAXABLE STRIKE BENEFIT;

6.  PUBLIC ASSISTANCE RECEIVED IN A CASH

GRANT;

7.  A PENSION;

8.  AN ANNUITY;

9.  ANY UNEMPLOYMENT INSURANCE BENEFIT;

10.  ANY WORKMEN'S COMPENSATION BENEFIT;

AND

11.  THE NET INCOME RECEIVED FROM A
BUSINESS, RENTAL, OR OTHER ENDEAVOR; AND

12.  ANY RENT ON THE DWELLING.
(III) "GROSS INCOME" DOES NOT INCLUDE:

1.  ANY INCOME TAX REFUND RECEIVED FROM
THE STATE OR FEDERAL GOVERNMENT; OR

2.  ANY LOSS FROM BUSINESS, RENTAL, OR
OTHER ENDEAVOR.

(8) "HOMEOWNER" MEANS AN INDIVIDUAL WHO, ON JULY 1 OF
THE TAXABLE YEAR FOR WHICH THE TAX CREDIT IS TO BE ALLOWED:

(I) ACTUALLY RESIDES IN A DWELLING IN WHICH THE
INDIVIDUAL HAS A LEGAL INTEREST; OR