Disabled veterans and surviving spouses; state subsidy of property tax exemptions.

State subsidy of property tax exemptions fordisabled veterans and surviving spouses. Requires the Commonwealthto subsidize local real estate tax relief for disabled veterans andsurviving spouses of members of the armed forces killed in action.The Commonwealth would subsidize localities for the amount of realestate tax revenue lost due to these constitutionally mandated taxrelief programs. The bill requiresthe Auditor of Public Accounts to establish an annual applicationprocess whereby a locality would demonstrate the amount of its realestate tax base that was lost. The Auditor would certify such amountsto the Governor and the General Assembly, and the Governor would include in the Budget Bill a proposed appropriation of the amountof the state subsidy to be provided to localities.