CA SB871

Allows homeowners' exemption to apply to properties receiving veterans' or disabled veterans' exemptions, effective January 1, 2025, if Senate Constitutional Amendment 6 is approved by voters on November 5, 2024.

Currently prohibits homeowners' exemption ($7,000) from applying to property where owner receives any other exemption, except this bill conditionally removes that restriction for veteran-related exemptions.

Requires Secretary of State to submit Senate Constitutional Amendment 6 to voters at the November 5, 2024 statewide general election, notwithstanding other election law requirements.

Provides that no state reimbursement shall be made to local agencies for property tax revenues lost due to this act.

Takes effect immediately as a tax levy upon enactment.