Increases the real property tax circuit breaker credit income limits to $100,000; removes real property tax rebates from real property taxes that qualify under such credit.
Creates the middle class circuit breaker tax credit allowing a credit against personal income tax, equal to seventy percent of the amount by which the taxpayer's net real property tax or the taxpayer's real property tax equivalent exceeds the taxpayer's maximum real property tax; establishes a tax reform study commission.
Modifies the "circuit breaker" tax credit by increasing the maximum upper limits and adjusting the property tax credit income phase-out increment amounts
Creates a vacant property classification for vacant and blighted properties; allows for cities with a population of one million or more to levy an additional real property tax on vacant and blighted properties with funds raised from such taxes being used to address homelessness.