This bill amends the existing law regarding the optional tax credit for service-connected total disability for disabled veterans. Specifically, it introduces the term "permanent" to describe the nature of the total disability, thereby changing the language to "service-connected permanent and total disability." The bill also increases the maximum amount of the tax credit from $4,000 to $5,000, providing greater financial relief to eligible veterans. Additionally, the bill clarifies that this optional tax credit will replace the standard tax credits outlined in RSA 72:28, 72:28-b, 72:28-c, and 72:36-a, rather than being an additional benefit.

The effective date of this act is set for 60 days after its passage, allowing time for implementation. Overall, the bill aims to enhance the support provided to disabled veterans by increasing the financial benefits available to them through property tax credits.