SB0387

Find a 2016 Bill:

2016 Regular Session

 

Entitled:

Income Tax Exemption Amount - Elderly Individuals

Sponsored by:

President

Status:

In the Senate - Hearing 2/24 at 1:00 p.m.


Synopsis:Increasing, from $1,000 to $5,000, the exemption allowed under the State income tax for an individual that is at least 65 years old on the last day of a taxable year; phasing in the increase over 4 taxable years; etc.
Analysis:Fiscal and Policy Note
All Sponsors:The President (By Request - Administration) and Senators Bates, Cassilly, Eckardt, Edwards, Hershey, Hough, Jennings, Kelley, Klausmeier, Mathias, Muse, Norman, Ready, Reilly, Rosapepe, Salling, Serafini, Simonaire, and Waugh
Additional Facts:Cross-filed with: HB0455
Bill File Type: Regular
Effective Date(s): July 1, 2016
By Request of the Governor
Committee(s):
Budget and Taxation  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Elderly Persons
Exemptions
Income Tax
Statutes:Article - Tax - General
(10-211)

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October 24, 2017 5:09 P.M.