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S 4742

Relates to a real property tax exemption for property owned by active duty service members

2025 Regular Session Introduced by Steve Chan and 1 co-sponsor

Bill S 4742 offers real property tax exemptions for active duty service members, easing their financial burden and supporting home ownership and stability.

REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
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WeVote Research Nonpartisan
Bill Summary · S 4742

Summary of Bill S 4742

Bill Overview

  • Bill Number: S 4742
  • Title: Relates to a real property tax exemption for property owned by active duty service members
  • Status: Referred to Veterans, Homeland Security and Military Affairs
  • Introduced: February 12, 2025
  • Classification: Bill

Purpose and Intent

Bill S 4742 aims to provide a real property tax exemption for properties owned by active duty service members. The intent of this legislation is to alleviate the financial burden of property taxes on those who serve in the military, recognizing their sacrifices and contributions to national security.

Key Provisions

  • Tax Exemption: The bill proposes a full or partial exemption from real property taxes for active duty service members.
  • Eligibility Criteria: Specific eligibility criteria will be established to determine which properties qualify for the exemption. This may include requirements related to the service member's active duty status and the primary use of the property.
  • Implementation Timeline: The bill does not specify an immediate implementation date; however, it is expected that if passed, the exemption would be applicable for the tax year following its enactment.

Affected Parties

  • Active Duty Service Members: The primary beneficiaries of this bill will be active duty military personnel who own real property.
  • Local Governments: The bill may impact local government revenue from property taxes, as exemptions could reduce the overall tax base.
  • Veterans and Military Families: While the bill specifically targets active duty members, it may also indirectly benefit veterans and military families by promoting a supportive environment for service members.

Legislative Process

  • Current Status: As of February 12, 2025, the bill has been referred to the Senate Committee on Veterans, Homeland Security and Military Affairs for further consideration.
  • Related Bills:
    • A 10490: A prior-session bill that may have similar objectives or provisions.
    • A 3864: A companion bill that could provide additional context or support for the measures proposed in S 4742.

Conclusion

Bill S 4742 seeks to provide financial relief to active duty service members through a real property tax exemption. By recognizing the unique challenges faced by military personnel, this legislation aims to support their home ownership and financial stability. The bill is currently under review by the relevant Senate committee, and its progress will be closely monitored by stakeholders in the military and veteran communities.

Compiled from official sources — confirm details with the bill’s official record.

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