Senate Bill No. 540 Summary

• Provides a 100% property tax deduction on assessed value for real property owners who lease residential property to veterans, effective January 1, 2018, with applications filed to county auditors by January 5 of the following calendar year.

• Eligible properties include dwellings with up to one acre of surrounding land or apartment units, where the veteran tenant has a lease of at least one year and uses the property as their principal residence.

• Establishes the Homeless Veterans Task Force, effective July 1, 2017, consisting of 13 voting members appointed by the director of the Department of Veterans' Affairs and the governor, with the department director serving as nonvoting chairperson.

• Requires the task force to develop a comprehensive plan by November 1, 2020 addressing housing placement, support services including employment and mental health treatment, annual homelessness reduction goals, and partnerships with public and private entities.

• The task force chapter and property tax deduction expire December 31, 2020 and July 1, 2021, respectively.