Senate Bill 1051 Summary

• Changes the effective date of property tax exemptions for elderly and disabled housing from approval date to December 31 of the year a property owner properly submits an exemption claim to the local assessor.

• Removes language restricting property tax exemption eligibility and allows properties that are exempt under the section to be protected from forfeiture, foreclosure, and sale for delinquent taxes without year-specific limitations.

• Simplifies definitions by removing references to specific federal housing programs (Section 202, Section 236, Section 811) and consolidating them under general USC code citations (12 USC 1701q and 42 USC 8013).

• Maintains existing provisions for state treasurer payments in lieu of taxes to local tax collecting units based on the property's taxable value in the first exemption year, excluding school and education tax mills.

• Preserves the Department of Treasury's authority to deny exemptions, approve retroactive exemptions for qualified properties back to 2009, and appeal property valuations and exempt status determinations.