LINCOLN, Neb. (AP) — Renters and some homeowners could end up saving money under a proposed income tax credit in the Nebraska Legislature.

Sen. Kate Bolz of Lincoln presented the bill to a legislative committee Thursday as part of the ongoing debate over property taxes.

The measure would create an income tax credit that residents could claim once their property tax bill reaches a certain percentage of their income. Renters could also claim the credit based on a percentage of their rent.

Renee Fry of the OpenSky Policy Institute, which supports the bill, says most of the tax reductions would go to low- and middle-income residents.

Mark Intermill, a lobbyist for AARP Nebraska, says the bill provides additional cash to those who need it most to cover basic necessities.