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IN SB0533
Bill
Status
1/14/2015
Primary Sponsor
Ronald Grooms
Click for details
AI Summary
SB 533 Summary
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After December 31, 2015, assessed value of tangible property is eliminated as a factor in determining eligibility for property tax deductions for totally disabled veterans or veterans age 62+ with at least 10% disability.
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Changes veteran motor vehicle excise tax credit from a fixed $70 per vehicle to 2% of the applicable property tax deduction amount, rounded to the nearest dollar.
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Exempts tangible property of disabled veterans and their spouses from property taxes if the property is a homestead provided by a state-recognized charitable organization.
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Allows surviving spouses of deceased veterans who died in combat or receive dependency indemnity compensation to claim homestead property tax exemptions.
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Provides $500,000 annual appropriation to reimburse veterans service organizations (up to $1,000 per case) and $120,000 for law school veterans disability clinics; expands tuition exemptions for all children of disabled veterans and authorizes refunds for tuition already paid pending eligibility determination.
Legislative Description
Various veterans matters. Provides that after December 31, 2015, the assessed value of an individual's tangible property may not be considered when determining whether the individual is eligible for the property tax deduction for: (1) totally disabled veterans; or (2) veterans who are at least 62 years of age and have a disability of at least 10%. Changes the amount of the veteran's credit against the annual motor vehicle excise tax from $70 per vehicle to 2% of the amount of the property tax deduction that the veteran would qualify for if the veteran owned tangible property. Provides that after
Last Action
Committee report: amend do pass adopted; reassigned to committee on Appropriations
2/5/2015