SB1534 Summary

• Allows applications for veteran homestead exemptions to continue processing after a veteran's death if the veteran had a surviving spouse, with any approved exemption carrying over to the spouse.

• Surviving spouse must meet existing requirements including holding legal/beneficial title to the homestead, permanently residing there, and not remarrying to receive the transferred exemption.

• Expands the definition of "surviving spouse" starting in taxable year 2023 to include spouses of veterans who would have qualified for the exemption but died before applying, if the spouse received dependency and indemnity compensation from the U.S. Department of Veterans Affairs.

• Takes effect immediately upon becoming law.