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)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Passed


01/13/2012Presented and ordered printed 12103977D
01/13/2012Referred to Committee on Finance
01/20/2012Impact statement from TAX (SB540)
01/25/2012Reported from Finance with substitute (11-Y 0-N) (see vote tally)
01/25/2012Committee substitute printed 12104692D-S1
01/26/2012Incorporates SB529
01/26/2012Constitutional reading dispensed (40-Y 0-N) (see vote tally)
01/27/2012Read second time
01/27/2012Reading of substitute waived
01/27/2012Committee substitute agreed to 12104692D-S1
01/27/2012Engrossed by Senate - committee substitute SB540S1
01/30/2012Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/13/2012Placed on Calendar
02/13/2012Read first time
02/13/2012Referred to Committee on Finance
02/13/2012Assigned Finance sub: #1
02/14/2012Impact statement from TAX (SB540S1)
02/15/2012Subcommittee recommends reporting (10-Y 0-N)
02/20/2012Reported from Finance (21-Y 0-N) (see vote tally)
02/21/2012Read second time
02/22/2012Read third time
02/22/2012Passed House BLOCK VOTE (96-Y 0-N)
02/22/2012VOTE: BLOCK VOTE PASSAGE (96-Y 0-N) (see vote tally)
02/27/2012Bill text as passed Senate and House (SB540ER)
02/27/2012Impact statement from TAX (SB540ER)
02/27/2012Signed by Speaker
02/28/2012Signed by President
03/13/2012G Approved by Governor-Chapter 263 (effective 7/1/12)
03/13/2012G Acts of Assembly Chapter text (CHAP0263)

Duplicate Bills

The following bills are identical to this one: HB922 and SB529.