2023 Session

Budget Amendments - SB800 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Stuart
State Subsidy of Property Tax Exemptions for Disabled Veterans and Surviving Spouses (SB 1032)

Item 266 #5s

Item 266 #5s

First Year - FY2023 Second Year - FY2024
Department of Accounts Transfer Payments FY2023 $0 FY2024 $12,600,000 GF

Page 302, line 2, strike "$585,380,000" and insert "$597,980,000".

Page 303, after line 3, insert:

"F. Out of this appropriation, $12,600,000 the second year from the general fund is provided as the estimated payment to subsidize local real estate tax relief pursuant to passage of Senate Bill 1032 of the 2023 General Assembly.".


(This amendment provides $12.6 million GF the second year to implement SB 1032 of the 2023 General Assembly, contingent on its final passage, whereby the Commonwealth would subsidize local real estate tax relief for disabled veterans and surviving spouses of members of the armed forces killed in action when more than one percent of a locality's real estate tax base is lost due to such state-mandated tax relief programs. This is the estimated fiscal impact.)