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 individual's previous eligibility for tax exemption under the Oklahoma Constitution, specifically Sections 8E and 8F. The county assessor is required to verify the information on the form and update the assessment roll to reflect the exempt status of the newly acquired homestead for the calendar year in which the property is acquired.

Additionally, the bill requires county assessors and treasurers to ensure that an ad valorem tax bill is sent to the owners of the homestead previously occupied by the disabled veteran or their surviving spouse if they did not receive a tax bill due to delays in recording the change in eligibility. The provisions of this act are set to take effect on November 1, 2026.