Real estate tax; exemption for disabled veterans. (SB540)
Introduced By
Sen. Toddy Puller (D-Mount Vernon) with support from co-patron Sen. Dave Marsden (D-Burke)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Real property tax exemption for disabled veterans. Provides that the tax exemption for the primary residence of a disabled veteran, a disabled veteran and his spouse, or a surviving spouse of a disabled veteran includes real property (i) held in a revocable inter vivos trust over which the veteran, the veteran and his spouse, or the surviving spouse hold the power of revocation; (ii) held in an irrevocable trust under which a veteran alone or in conjunction with his spouse possesses a life estate or an estate for joint lives, or enjoys a continuing right of use or support; or (iii) held by a veteran alone or in conjunction with his spouse as tenant or tenants for life or joint lives. The bill also provides that the exemption for the surviving spouse of a disabled veteran includes property held in any of these ways. Finally, the bill establishes a formula for pro rating the amount of the exemption in the event there are owners in addition to the disabled veteran. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/13/2012 | Presented and ordered printed 12103977D |
01/13/2012 | Referred to Committee on Finance |
01/20/2012 | Impact statement from TAX (SB540) |
01/25/2012 | Reported from Finance with substitute (11-Y 0-N) (see vote tally) |
01/25/2012 | Committee substitute printed 12104692D-S1 |
01/26/2012 | Incorporates SB529 |
01/26/2012 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
01/27/2012 | Read second time |
01/27/2012 | Reading of substitute waived |
01/27/2012 | Committee substitute agreed to 12104692D-S1 |
01/27/2012 | Engrossed by Senate - committee substitute SB540S1 |
01/30/2012 | Read third time and passed Senate (40-Y 0-N) (see vote tally) |
02/13/2012 | Placed on Calendar |
02/13/2012 | Read first time |
02/13/2012 | Referred to Committee on Finance |
02/13/2012 | Assigned Finance sub: #1 |
02/14/2012 | Impact statement from TAX (SB540S1) |
02/15/2012 | Subcommittee recommends reporting (10-Y 0-N) |
02/20/2012 | Reported from Finance (21-Y 0-N) (see vote tally) |
02/21/2012 | Read second time |
02/22/2012 | Read third time |
02/22/2012 | Passed House BLOCK VOTE (96-Y 0-N) |
02/22/2012 | VOTE: BLOCK VOTE PASSAGE (96-Y 0-N) (see vote tally) |
02/27/2012 | Enrolled |
02/27/2012 | Bill text as passed Senate and House (SB540ER) |
02/27/2012 | Impact statement from TAX (SB540ER) |
02/27/2012 | Signed by Speaker |
02/28/2012 | Signed by President |
03/13/2012 | G Approved by Governor-Chapter 263 (effective 7/1/12) |
03/13/2012 | G Acts of Assembly Chapter text (CHAP0263) |