2008 Regular Session

SENATE BILL 426

File Code: Taxes - Income
Sponsored By:
Senators Peters, Jacobs, and Rosapepe
Entitled:
Income Tax Subtraction Modification - Military Pay

Synopsis:

Increasing from $15,000 to $30,000 the maximum subtraction modification allowed under the State income tax for military income attributable to military service outside the United States; increasing from $15,000 to $45,000 the threshold amount of military pay above which the subtraction modification is phased out; applying the Act to taxable years beginning after December 31, 2007; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.
Senate Action
1/31
First Reading Budget and Taxation
2/20
Hearing 3/5 at 1:00 p.m.
House Action
No Action

Sponsored by:

Senator Douglas J. J. Peters, District 23
Senator Nancy Jacobs, District 34
Senator Jim Rosapepe, District 21

Bill indexed under the following Subjects:

Armed Forces -see also- Militia
Exemptions
Income Tax

Bill affects the following Statutes:

Tax - General
( 10-207 , 10-207 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments: None offered