Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Veterans Housing Credit topic
No spam. Unsubscribe anytime.
Senator Elliot’s amendment to SB130 adopted to prevent counting exempt ad valorem taxes in veterans' debt-to-income calculations
Summary
Senator Elliot moved and explained an amendment to SB130 that requires a certificate showing a veteran is 100% disabled and prevents settlement or closing officers from counting ad valorem (property) taxes in debt-to-income ratios when the veteran is exempt; the amendment was adopted and the bill given a favorable report.
Senator Elliot moved and the committee adopted an amendment to SB130 that, according to his explanation, creates a mechanism for veterans to present a certificate confirming a 100% disability determination and prevents settlement or closing officers from counting ad valorem (property) taxes in debt-to-income calculations when the veteran is exempt from paying those taxes. Senator Elliot said the change was intended to address the Department of Revenue’s concerns.
"It prevents a settlement officer or closing officer from considering ad valorem taxes in a debt-to-income ratio calculation if the veteran...is exempt from it," Senator Elliot said while describing the amendment. He added the Department of Revenue was satisfied with the change.
The amendment was adopted without objection; the chair then recorded the bill as given a favorable report. The transcript does not record a roll-call tally or detail the certificate’s form, the agency that would issue it, or effective dates.
The motion and adoption appear to reflect committee consensus; the record does not include testimony opposing the amendment or any offered amendments to the amendment itself.
