Sec. 1. 36 MRSA §653, sub-§1, ¶C, as amended by PL 1999, c. 462, §2, is repealed and the following enacted in its place:

C.__The estates up to the just value of $5,000, having a taxable situs in the place of residence, of veterans who served in the Armed Forces of the United States if the veteran:

(1)__Served for a period of at least 2 years and is at least 62 years of age; or

(2)__Is__receiving any form of pension or compensation from the United States Government for total disability, service-connected or nonservice- connected, as a veteran.

The exemptions provided in this paragraph apply to the property of that veteran, including property held in joint tenancy with that veteran's spouse or held in a revocable living trust for the benefit of that veteran.

Sec. 2. 36 MRSA §653, sub-§1, ¶D-1, as amended by PL 2001, c. 396, §13, is further amended to read:

D-1. The estates up to the just value of $47,500, having a taxable situs in the place of residence, for specially adapted housing units, of veterans who served in the Armed Forces of the United States during any federally recognized war period, including the Korean Campaign, the Vietnam War and the Persian Gulf War, for a period of at least 2 years and who are paraplegic veterans within the meaning of 38 United States Code, Chapter 21, Section 2101, and who received a grant from the United States Government for any such housing, or of the unremarried widows of such veterans. A veteran of the Vietnam War must have served on active duty for a period of more than 180 days, any part of which occurred after February 27, 1961 and before May 8, 1975 in the case of a veteran who served in the Republic of Vietnam during that period and after August 4, 1964 and before May 7, 1975 in all other cases, unless the veteran died in service or was discharged for a service- connected disability after that date. "Vietnam War" means the period between August 5, 1964 and May 7, 1975 and the period beginning on February 28, 1961 and ending on May 7, 1978 in the case of a veteran who served in the Republic of Vietnam during that period. "Persian Gulf War" means service on active duty on or after August 7, 1990 and before or on the date that the United States Government recognizes as the end of that war period. The exemption provided in this