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IN SB0480
Bill
AI Summary
SB 480 Summary
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Defines "Cold War" as the period of political hostility between Soviet bloc countries and United States-led western powers from 1945 to 1990, effective July 1, 2017.
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Allows Cold War veterans with a service-connected disability of 10% or more and honorable discharge to deduct $24,960 from assessed property value for real property, mobile homes, or manufactured homes, effective January 1, 2018.
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Extends property tax deduction eligibility to surviving spouses of qualifying Cold War veterans who meet the disability and discharge requirements at time of death.
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Allows children of Cold War veterans to receive tuition and fee exemptions at state educational institutions if they meet residency, academic, age (not more than 32), and adoption requirements.
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Provision applies to assessment dates after December 31, 2017 and expires December 31, 2020.
Legislative Description
Cold war veterans. Allows veterans who served during the Cold War to receive a deduction from the assessed value of the taxable tangible property or real property that the veteran owns. Allows children of veterans who served during the Cold War to receive a tuition and fee exemption at a state educational institution.
Last Action
First reading: referred to Committee on Tax and Fiscal Policy
1/12/2017