Definitions for the real property tax credit program

For the purposes of this article, the following definitions apply unless the context clearly indicates or requires a different meaning. Income. The sum of federal total income as defined in the Internal Revenue Code of the United States of 1954, as amended, and all nontaxable income, including but not limited to: (1) Tax-exempt interest received from the federal government or any of its instrumentalities; (2) The gross amount of any IRA distribution, pension, or annuity benefits received (including Railroad Retirement Act of 1974 (45 USC Chapter 9, as amended) benefits and veterans disability pensions), excluding rollovers; (3) All payments received under the federal Social Security and State unemployment insurance laws; (4) Nontaxable contributions to any one or more of the following: public or private pension, annuity or deferred compensation plans; and (5) Federal cost of living allowances. All income set forth in the tax return filed by the titleholder, whether the tax return is a joint tax return or an individual tax return, shall be considered the titleholder’s income. Income does not include nonmonetary gifts from private sources, or surplus foods or other relief in kind provided by public or private agencies. Property Owner. Has the same meaning as defined in § 8-6.3 . Qualified Surviving Spouse. A person who: (1) Is the surviving spouse of a property owner who, at the time of death, was the owner of property that was granted a tax credit under this article; (2) Is a transferee of the property directly from the deceased property owner or the estate thereof; and (3) Qualifies under this article for the tax credit on the same property. Real Property Tax Credit. The tax credit established pursuant to § 8-13.2 . Taxes Owed. The tax calculated for the owner’s property in the tax roll under § 8-3.1 (a). Titleholder. The property owner and any other entity listed on the deed or any other legal instrument establishing the entity’s ownership right in the property. The term includes corporations and other business entities and trusts. The term does not include mortgage lenders. )