This bill enacts R.S. 47:1716, which establishes an ad valorem property tax exemption specifically for certain veterans with disabilities in Louisiana. The exemption will be applicable to property taxes due starting in the tax year 2023, regardless of when the property tax assessment rolls for that year are completed. This provision aims to provide financial relief to eligible veterans by ensuring that they benefit from the tax exemption in a timely manner.

The bill outlines that the new exemption will take effect for tax years beginning on or after January 1, 2023, and will become effective upon the governor's signature or after the designated period for bills to become law without a signature. If the bill is vetoed but later approved by the legislature, it will take effect the day after that approval.