Senate File No. 532 is a legislative bill intended to modify property tax exemptions for veterans with disabilities in Minnesota. Specifically, it aims to increase the amount of a veteran's home market value that can be excluded from property tax calculations, depending on their level of disability as certified by the United States Department of Veterans Affairs.

Key components of the bill include:

1. Veterans with a service-connected disability rating of 70% or more can exclude $200,000 of their home's market value from property taxes (an increase from the previous $150,000).
2. Veterans who are totally and permanently disabled can exclude $400,000 of their home’s market value from property taxes (an increase from the previous $300,000).
3. If a qualifying veteran passes away, their spouse may continue to receive the property tax exclusion on their home until they remarry, sell, or otherwise transfer the property.
4. The bill also addresses situations where the spouse of a service member who dies in active duty due to a service-connected cause holds the property; they too can benefit from the same tax exclusion as permanently disabled veterans.

The purpose of this legislation is to provide financial relief on property taxes to veterans who have significant disabilities resulting from their service, as well as to their spouses, recognizing the sacrifices made by military families.