15-1-1002. (Temporary) Homeowner's tax payment -- eligibility. (1) In order to be eligible to make a claim for payment under this part, the claimant must:
     (a) have occupied an owner-occupied residence in Montana as the owner or contractor for deed for at least 7 months of the claim period;
     (b) be the owner on January 1 of the claim period of an owner-occupied residence that the claimant also owned on January 1, 1993;
     (c) be the owner of the owner-occupied residence described in subsection (1)(b) that had a market value for the 1993 tax year that was more than 15% greater than the market value on January 1 of the 1992 tax year.
     (2) A claimant may own and occupy more than one owner-occupied residence in this state during the year and still meet the occupancy requirement in subsection (1)(a) if the total occupancy is for 7 months or more.
     (3) In determining the increase in values required by 15-1-1005 and subsection (1)(c) of this section, new construction and any remodeling or additions to existing improvements may not be considered.
     (4) If the claimant meets the requirements of subsection (1) on any one owner-occupied residence, all other owner-occupied residences owned by the claimant that meet the requirements of subsection (1) are eligible for the payment, whether or not the owner-occupied residence was occupied by the owner for the required time. However, a claimant may elect a payment only for a single owner-occupied residence and the payment may not be made for a residence that was leased or rented for more than 5 months during the claim period. (Terminates December 31, 1996--sec. 15, Ch. 574, L. 1995.)

     History: En. Sec. 2, Ch. 574, L. 1995.