SENATE BILL 196

File Code: Taxes - Income Crossfiled with: HOUSE BILL 292

Sponsored By:

Senator Green (By Request)

Entitled:

Income Tax - Subtraction Modification for Retirement Income

Synopsis:

Increasing the maximum pension exclusion allowed for State income tax purposes for individuals who are at least 65 years old or who are disabled or whose spouse is disabled; providing that the increase does not apply to the computation of the county income tax; and applying the Act to tax years after 2003.

History by Legislative Date

Senate Action

1/28

First Reading Budget and Taxation

1/29

Hearing 2/12 at 1:30 p.m.

2/24

Unfavorable Report by Budget and Taxation

House Action

No Action

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