HB 5674 Summary

• Amends the disabled veterans homestead property tax exemption under the General Property Tax Act to clarify language regarding affidavit filing procedures and terminology.

• Adds new subsection (3) requiring local tax collecting units to report disabled veteran property tax exemption data to the Department of Treasury, including copies of affidavits, board of review resolutions, property identification numbers, taxable values, and applicable millages for reimbursement claims.

• Requires local taxing units to provide lists of individual local taxing units and beneficiary entities entitled to reimbursement along with anticipated distribution amounts based on foregone taxes and refunds provided.

• Updates terminology throughout the section to use "Armed Forces" instead of "armed forces," "is" instead of "shall be," and "individual" instead of "person" for consistency.

• Includes an enacting clause making the amendments contingent on the simultaneous enactment of Senate Bill No. ____ or House Bill No. 5675.