HB23-1052 Summary

• Creates new state law requiring veterans with individual unemployability status (as determined by the U.S. Department of Veterans Affairs) be treated equivalently to veterans with 100% permanent disability ratings when determining eligibility for any state veterans benefit.

• Expands the property tax exemption for veterans with disabilities to include veterans with individual unemployability status who do not have a 100% permanent service-connected disability rating.

• Modifies terminology throughout Colorado Revised Statutes from "disabled veteran" to "veteran with a disability" to reflect the expanded definition.

• Exempts 50% of the first $200,000 in actual value of owner-occupied residential real property used as a primary residence for qualifying veterans with a disability, effective for property tax years commencing January 1, 2025.

• Takes effect January 1, 2025, contingent upon approval of a constitutional amendment to section 3.5(1.5) of article X of the Colorado Constitution at the next general election that modifies the definition of "disabled veteran."