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

Propose to create a new section of the Constitution of Kentucky to exempt from state and local property taxes real property maintained as the permanent residence of an owner who is an active-duty member or honorably discharged veteran of the United States Armed Forces, the United States Reserve Forces, or the Kentucky National Guard; require the owner to file paperwork with the local assessor to receive the exemption; provide that the exemptions supersede contrary provisions of Sections 170, 171, 172, and 174 of the Constitution of Kentucky; apply the exemptions to property assessed on or after January 1, 2027; provide ballot language; submit to voters for ratification or rejection.