Bulletin: ID2014001

Dear Associates:

The following is a summary of legislation that was passed in the 2014 legislative session. Overall, it was a very quiet session as far as our industry was concerned. There were a number of bills filed that would have had a direct impact on our industry but the bills did not pass. Below is the bill that passed that may be of interest.

H.B. 584 Homestead Exemptions (amends I.C.A. 63-602G Property Exempt from Taxation). A homestead which previously qualified for exemption shall not lose the qualification due to the owner’s, beneficiary’s, partner’s, member’s or shareholder’s absence due to active military service provided an application for the exemption is made every year on or before the date established by the county assessor. If the annual application is not made before the deadline, the county may, at its discretion, discontinue the exemption for that year.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.