Senate Bill No. [number], introduced by E. Boldman, aims to revise the Disabled Veteran Property Tax Assistance Program by increasing the eligibility criteria for disabled veterans. The bill proposes to change the disability rating requirement from a minimum of 60% to a range of 80% to 90% disabled. This amendment is reflected in the definitions of "qualified veteran" and the tax rate reduction provisions, which now include veterans rated at 80% or higher. Additionally, the bill updates the income percentage multipliers for tax reductions based on qualifying income, providing more favorable rates for veterans and their surviving spouses.

The bill also includes provisions for annual adjustments to qualifying income levels based on the PCE inflation factor, ensuring that the assistance remains relevant over time. Furthermore, it establishes an immediate effective date upon passage and specifies that the new provisions will apply to property tax years beginning after December 31, 2025. Overall, this legislation seeks to enhance financial support for disabled veterans and their families by broadening the scope of the property tax assistance program.

Statutes affected:
LC Text: 15-6-301, 15-6-311
SB0424_1(1): 15-6-301, 15-6-311
SB0424_1(2): 15-6-301, 15-6-311
SB0424_1(3): 15-6-301, 15-6-311
SB0424_1(4): 15-6-301, 15-6-311
SB0424_1(5): 15-6-301, 15-6-311
SB0424_1(6): 15-6-301, 15-6-311
SB0424_1(7): 15-6-301, 15-6-311
SB0424_1: 15-6-301, 15-6-311
SB0424_2(1): 15-6-301, 15-6-311
SB0424_2: 15-6-301, 15-6-311