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Synopsis As Introduced Amends the Property Tax Code. Provides that the homestead exemption for veterans with disabilities shall be prorated if the property is first used as a qualified residence by a veteran with a disability after January 1 of a taxable year. Effective immediately.
House Committee Amendment No. 1 Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill. Further amends the Property Tax Code. In the Section concerning the homestead exemption for veterans with disabilities, provides that, for taxable year 2018 and thereafter, "qualified residence" means real property with a fair cash value of less than $300,000 (currently, an equalized assessed value of less than $250,000) that is the primary residence of a veteran with a disability. Provides that, for taxable year 2017 and thereafter, for the purpose of the homestead exemption for veterans with disabilities, "surviving spouse" means (i) the surviving spouse of a veteran who qualified for the exemption prior to his or her death; (ii) the surviving spouse of a veteran who was killed in the line of duty; or (iii) the surviving spouse of a veteran who did not obtain the exemption before death, but who applied for a service-connected disability certification from the United States Department of Veterans Affairs or the United States Department of Defense no earlier than January 1, 2007 and would have qualified for the exemption if he or she had survived. Effective immediately.
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