TAX/INCOME/PERSONAL: Establishes an individual income tax credit for payments made toward a homeowner's insurance policy premium. (1/1/26) (RE -$10,000,000 GF RV See Note)

SB 235 creates a state tax credit for homeowners who pay premiums on their homeowner's insurance policies. It directly affects individual taxpayers who purchase homeowner's insurance, allowing them to reduce their state income tax liability. The credit is capped at $10 million total per year, distributed on a first-come, first-served basis, and expires for tax years beginning on or after January 1, 2036. This policy change provides a direct financial benefit to eligible homeowners but limits annual availability to ensure the program stays within a set budget.