Bill > SB253

This bill amends the Pennsylvania Consolidated Statutes to further define the terms "annual income" and "income" for the purposes of the disabled veterans' real estate tax exemption. The key provisions are: 1. It defines "annual income" to include all income received by the applicant and their spouse during the calendar year prior to the year the exemption is claimed. 2. It provides a more detailed definition of "income" to include various sources such as salaries, pensions, Social Security benefits, capital gains, and other forms of income, with some exclusions such as property tax or rent rebates. 3. It changes the duty of the State Veterans' Commission to establish uniform standards for determining the need for the exemption. The bill deems applicants with annual income of $75,000 or less to be in need of the exemption, and requires the Commission to adjust this income threshold every two years based on changes in the Consumer Price Index. 4. For applicants with annual income exceeding $75,000, the bill requires the Commission to determine the applicant's need for the exemption after submission of proof of need.