Redevelopment area homestead property tax credit established, and money appropriated.

HF 3443 creates a property tax credit for homeowners in designated redevelopment areas. It provides a 70% credit on a property's tax amount for homes classified as 1a or 1b located in cities of the second class that were federally designated as redevelopment areas under the 1965 Public Works Act. The credit reduces property taxes paid by qualifying homeowners, with the state reimbursing local governments in two installments annually using funds appropriated from the general fund. The credit becomes effective for taxes payable starting in 2027.