This bill mandates the Oklahoma Tax Commission to create a specific form for use by county assessors and treasurers, which disabled veterans and their surviving spouses must utilize after a real estate closing. The form will collect information regarding the individuals' previous eligibility for tax exemption under the Oklahoma Constitution, specifically Sections 8E and 8F. The county assessor is required to verify the information provided on the form and update the assessment roll to reflect the exempt status of the new homestead acquired by the disabled veteran or their surviving spouse.

Additionally, the bill requires county assessors and treasurers to ensure that an ad valorem tax bill is sent to the homestead that was previously occupied by the disabled veteran or their surviving spouse, if applicable. This legislation aims to streamline the process for disabled veterans and their families in maintaining their tax exemptions when transitioning to a new homestead. The act is set to take effect on November 1, 2026.