House Bill No. 7067 establishes a new emergency certificate of need application process for the transfer of ownership of hospitals that have filed for bankruptcy protection. This process allows transacting parties to apply for an emergency certificate of need, which is subject to the discretion of the Commissioner of Health Strategy. The bill outlines specific requirements for the application, including data analysis on the impact of the transfer on healthcare costs, quality, and access. If the purchaser is a for-profit entity, additional information may be required to ensure the hospital's ongoing operation serves the public interest. The bill also modifies the assessment of motor vehicles for property taxation by repealing previous language and inserting a new depreciation schedule based on the manufacturer's suggested retail price, effective for assessment years commencing on or after October 1, 2024.

Furthermore, the bill amends existing laws regarding property assessment appeals and budget adjustments for municipalities adopting the new depreciation schedule. It allows assessors to adjust and republish the grand list of assessments, sets specific timelines for appeals, and permits municipalities to amend their budgets and tax levies in response to the new depreciation rates. The bill also modifies tax exemption laws for veterans with disabilities, ensuring that individuals with a 100% disability rating from the U.S. Department of Veterans Affairs are eligible for exemptions on their primary residence or one motor vehicle. Additionally, it introduces a new structure for property tax exemptions based on disability ratings and allows for retroactive abatement or refund of taxes for veterans who provide the required documentation. The bill includes an appropriation of $40 million from the General Fund for the Department of Education for the fiscal year ending June 30, 2025, although a line item veto was applied to Section 7 regarding this appropriation.