UNAPPROVED DRAFT BILL -- Subject to Change Without Notice!
BILL NO.
INTRODUCED BY
(Primary Sponsor)
A BILL FOR AN ACT ENTITLED: "AN ACT REVISING THE PROPERTY TAX EXEMPTION FOR A DISABLED VETERAN OR SURVIVING SPOUSE; ADJUSTING THE INCOME LIMITATIONS APPLICABLE TO THE DISABLED VETERAN OR SURVIVING SPOUSE BY THE CONSUMER PRICE INDEX; AMENDING SECTION 15-6-211, MCA; AND PROVIDING AN APPLICABILITY DATE."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 15-6-211, MCA, is amended to read:
"15-6-211. Certain disabled or deceased veterans' residences exempt. (1) A residence, including the lot on which it is built, that is owned and occupied by a veteran or a veteran's spouse is exempt from property taxation if the veteran:
(a) was killed while on active duty or died as a result of a service-connected disability; or
(b) if living:
(i) was honorably discharged from active service in any branch of the armed services;
(ii) has been rated 100% disabled because of a service-connected disability by the United States department of veterans affairs or its successor; and
(iii) has an annual adjusted gross income, as reported on the latest federal income tax return, of not more than $30,000, as adjusted under the provisions of subsection (3), for a single person and $36,000, as adjusted under the provisions of subsection (3), for a married couple.
(2) The property tax exemption under this section remains in effect as long as the property is the primary residence owned and occupied by the veteran or, if the veteran is deceased, by the veteran's spouse and the spouse:
(a) is the owner and occupant of the house;
(b) has an annual adjusted gross income, as reported on the latest federal income tax return, of not more than $25,000, as adjusted under the provisions of subsection (3);
(c) is unmarried; and
(d) has obtained from the United States department of veterans affairs a letter indicating that the veteran was 100% service-connected disabled at the time of death or that the veteran died while on active duty or as a result of a service-connected disability.
(3) By December 1 of each year, the department shall multiply the annual adjusted gross income figures referred to in subsections (1)(b)(iii) and (2)(b) by the number determined by dividing the consumer price index for June of the current calendar year by the consumer price index for June of 2002. The resulting adjusted annual adjusted gross income figures are effective for the following property tax year and must be used as the income limits under this section."
NEW SECTION. Section 2. Applicability. [This act] applies to property tax years beginning after December 31, 2003.
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