SB 56: Property taxation: disabled veterans’ exemption: household income.

The bill aims to amend the property tax exemption for disabled veterans. It would exclude service-connected disability payments from the definition of "household income" for purposes of the exemption until January 1, 2036. This change would allow disabled veterans to keep more of their disability payments, which are not considered income when determining the exemption amount. The bill also corrects an error in the current law and imposes additional duties on local tax officials. The state is required to reimburse local agencies and school districts for certain costs mandated by the state, but this bill would exempt reimbursement for costs related to the exemption.