PROP TX-PRO-RATA EXEMPTION

Amends the Property Tax Code. Provides that the general homestead exemption and exemptions granted to disabled and returning veterans shall be granted on a pro-rata basis if the property is first occupied as a residence after January 1 of any assessment year by a person who is eligible for the exemption. Provides that cooperatives and life care facilities must credit the savings resulting from those exemptions only to the apportioned tax liability of the owner or resident who qualified for the exemption, and provides that any person who willfully refuses to so credit the savings shall be guilty of a Class B misdemeanor. Provides that the general homestead exemption and exemptions granted to disabled and returning veterans shall continue even if the qualifying taxpayer becomes a resident of a facility licensed under the Nursing Home Care Act or the MR/DD Community Care Act so long as (i) the residence continues to be occupied by the qualifying person's spouse or (ii) the residence remains unoccupied but is still owned by the person qualified for the exemption. Effective immediately.