Bill > SB450

This bill amends the Pennsylvania Consolidated Statutes to update the definitions and duties of the State Veterans' Commission regarding the disabled veterans' real estate tax exemption. The key provisions are: 1) Defining "income" more broadly to include various types of income and benefits, such as salaries, pensions, Social Security, and capital gains. 2) Establishing a presumption that veterans with annual income of $75,000 or less are in need of the real estate tax exemption, and requiring the Commission to adjust this income threshold every two years based on changes in the Consumer Price Index. 3) Requiring the Commission to determine the need for the exemption for veterans with annual income exceeding $75,000, after the applicant submits proof of need. 4) Requiring the Commission to transmit the adjusted income threshold to the Legislative Reference Bureau for publication in the Pennsylvania Bulletin.