Substitute House Bill No. 5491, Public Act No. 24-46, is a legislative act that amends the property tax exemption laws for veterans with disabilities. The bill introduces a new tax exemption for veterans who have a service-connected permanent and total disability, as determined by the United States Department of Veterans Affairs. This exemption applies to a dwelling or motor vehicle owned and used by the veteran as their primary residence, or if no dwelling or vehicle is owned, one owned by the veteran's spouse or held in trust for the veteran's minor children or surviving spouse. The bill also allows for retroactive application of the exemption in certain cases and simplifies the process for veterans to provide proof of their disability rating to the town assessor, eliminating the need for annual resubmission unless the rating changes.

Furthermore, the bill revises the existing property tax exemption for veterans with a disability rating of 10% or more but less than permanent and total, with varying exemption amounts based on the percentage of disability or age. It extends the exemption to the property of a deceased veteran's surviving spouse or minor children and specifies that no individual can receive more than one exemption under the specified subdivisions. The bill also includes procedural updates for tax collectors regarding applications for tax abatements or refunds, repeals and replaces Section 12-95 to ensure exemptions are not granted without proper proof, and allows municipalities to offer a property tax exemption as a uniform percentage of the assessed value of a specially equipped motor vehicle owned by a qualifying veteran. However, it limits individuals to only one motor vehicle exemption under the amended sections.

Statutes affected:
Raised Bill: 12-95
FIN Joint Favorable Substitute: 12-95, 12-81h
File No. 561: 12-95, 12-81h
Public Act No. 24-46: 12-95, 12-81h