Requires State reimbursement to local government units for first-year uncollected property tax revenue attributable to veterans' property tax exemption.

This bill requires the state to reimburse local governments (municipalities, counties, school districts, and fire districts) for property tax revenue lost during the first year when a veteran qualifies for a 100% service-connected disability property tax exemption. It specifically covers veterans with qualifying disabilities (such as paraplegia, amputations, or total blindness) or their surviving spouses who meet the exemption criteria. Local governments must submit documentation to the state within 10 days of exemption approval, and the state treasurer must issue reimbursement within 10 days of each quarterly tax bill due date. The reimbursement applies only to the first tax year after exemption approval, not subsequent years. This change directly affects veterans receiving the exemption and local governments that previously absorbed the revenue loss.