Legislation

Title: Income Tax - Subtraction Modification - Retirement Income
Sponsored by: Delegates Tarrant, Conaway, Hogan, Morhaim, Proctor, Stukes, and F. Turner
Status: In the House - Hearing 3/12 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Increasing the maximum amount allowed as a subtraction modification under the State income tax for specified retirement income of an individual who is at least 70 years old or who is totally disabled; reducing the maximum amount of retirement income allowed as a subtraction modification by the amount of Social Security benefits received; providing that the amount of the subtraction modification may not exceed specified amounts during specified taxable years; applying the Act to taxable years after December 31, 2012; etc.

Committees

Original:: Ways and Means Click to view Recorded Media

Opposite:

Details

Cross-filed with: SB0048

Introduced in a prior session as: SB0752 Session: 2012 Regular Session

Bill File Type: Regular

Effective Date(s): July 1, 2013

History

Legislation History
Chamber House Calendar Date 1/28/2013 Legislative Date 1/28/2013 Action First Reading Ways and Means Proceedings
Chamber House Calendar Date 1/30/2013 Legislative Date 1/30/2013 Action Hearing 3/12 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	1/28/2013	1/28/2013	First Reading Ways and Means
House	1/30/2013	1/30/2013	Hearing 3/12 at 1:00 p.m.

Documents

Date Posted	Document Name
1/29/2013	Text - First - Income Tax - Subtraction Modification - Retirement Income

File Code

Subjects

Statutes