RELATING TO TAXATION.

HB 1251 would create a refundable income tax credit for property owners whose real estate insurance premiums increased. It directly helps these property owners by refunding the exact amount of their higher insurance costs through their tax returns. The credit applies to properties affected by rising insurance premiums, though the bill does not specify exact property types or thresholds. This policy change aims to offset financial burdens caused by insurance cost increases without requiring new tax payments.