The proposed bill would amend current statutes regarding property tax exemptions for veterans with service-connected disabilities. Specifically, it would change the language from exempting the property of eligible veterans to exempting their primary residence. This adjustment clarifies that the exemption applies specifically to the veteran's primary residence, and if the residence is jointly owned with a spouse, it will be treated as if solely owned by the veteran for the purpose of the exemption. Additionally, the bill stipulates that the surviving spouse of a veteran can continue to claim the exemption for their primary residence as long as they do not remarry. Furthermore, the bill introduces a new provision stating that the property tax exemptions provided in subsections C, D, and E of this section are exclusive from each other, meaning individuals cannot claim multiple exemptions across different categories. The act is designated as an emergency measure, which would allow it to take effect immediately upon the Governor's signature, and it applies to tax years beginning from and after December 31, 2025.

Statutes affected:
Introduced Version: 42-11111