HOUSE BILL 630

File Code: Taxes - Income

Sponsored By:

Delegates Rawlings and Palumbo

Entitled:

Income Tax - Subtraction for Retirement Income

Synopsis:

Increasing the maximum subtraction allowed and altering the computation of a subtraction modification allowed under the income tax for income from an employee retirement system included in federal adjusted gross income of individuals who are at least 65 years old or who are disabled or whose spouses are disabled; and applying the Act to tax years after 1999.

History by Legislative Date

House Action

2/9

First Reading Ways and Means

Hearing 2/23 at 11:00 a.m.

3/8

Unfavorable Report by Ways and Means

Senate Action

No Action

Sponsored by:

Delegate Howard P. Rawlings, District 40

Delegate Richard A. Palumbo, District 22A

Bill indexed under the following Subjects:

DISABILITIES -see also- BLIND; DEAF; DEVELOPMENTAL

ELDERLY PERSONS

EXEMPTIONS

INCOME TAX

RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT

Bill affects the following Statute:

Tax - General

( 10-209 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered