AN ACT proposing to create a new section of the Constitution of Kentucky relating to exempting property from taxation.

Propose to create a new section of the Constitution of Kentucky to allow the General Assembly to provide by law a property tax exemption for the permanent residence of an owner who is a veteran with a service-connected disability; require the law to specify the amount of the exemption, the qualifications for claiming the exemption, and whether the exemption transfers to the veteran's surviving spouse; prohibit more than 1 exemption per permanent residence; disallow the exemption to be combined with an exemption under Section 170 of the Constitution of Kentucky; provide ballot language; submit to voters for ratification or rejection.