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GA HB871
Bill
Status
Engrossed
2/8/2024
Primary Sponsor
Clay Pirkle
Click for details
AI Summary
- Extends the existing homestead exemption for disabled veterans to allow unremarried surviving spouses or minor children to apply the exemption to any new homestead they own and occupy, not just the original home of the deceased veteran
- Exemption amount is the greater of $32,500 or the maximum amount granted under Section 2102 of Title 38 of the U.S. Code, exempt from all ad valorem taxation for state, county, municipal, and school purposes
- Requires unremarried surviving spouses or minor children who move to a new homestead to file for the exemption in the county of the new homestead, with automatic annual renewal thereafter
- Requires a two-thirds majority vote in both chambers of the General Assembly and approval by statewide referendum on November 5, 2024, to take effect
- If approved by voters, the Act becomes effective January 1, 2025, and applies to all taxable years beginning on or after that date; if not approved, the Act is automatically repealed
Legislative Description
Ad valorem tax; qualified disabled veterans; clarify applicability of homestead exemption to spouses and minor children
Last Action
Senate Read Second Time
3/8/2024
Committee Referrals
Finance2/9/2024
Ways and Means1/9/2024
Full Bill Text
No bill text available