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2016 Regular Session



Income Tax - Subtraction Modification - Military Retirement Income - Individuals at Least 65 Years Old

Sponsored by:

Senator Peters


In the Senate - Hearing 2/10 at 1:00 p.m.

Synopsis:Altering a subtraction modification under the State income tax for specified military retirement income for individuals who are at least 65 years old from $10,000 to $15,000; and applying the Act to all taxable years beginning after December 31, 2015.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Peters, Astle, Benson, Cassilly, Currie, DeGrange, Edwards, Feldman, Guzzone, Hough, Jennings, Kagan, King, Klausmeier, Manno, Mathias, McFadden, Middleton, Nathan-Pulliam, Norman, Ramirez, Raskin, Reilly, Rosapepe, Salling, Serafini, Simonaire, Waugh, and Zirkin
Additional Facts:Cross-filed with: HB0738
Bill File Type: Regular
Effective Date(s): July 1, 2016
Budget and Taxation  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Armed Forces -see also- Military Department; Veterans
Elderly Persons
Income Tax
Retirement Systems -see also- Mandatory Retirement

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Explanation of Floor Motions and Actions

February 11, 2016 9:31 A.M.