File Code: Taxes - Income
Prior Year Introduction As: HB 408/02 - W&M
- Sponsored By:
-
Delegates O'Donnell and Owings
- Entitled:
-
Income Tax - Subtraction Modification for Military Retirement Income
Increasing from $2,500 to $5,000 the maximum amount allowed under the
income tax subtraction modification for military retirement income;
eliminating the requirements that an individual must be at least 55
years old on the last day of the taxable year and must have been an
enlisted member of the military at the time of the retirement;
increasing from $17,500 to $35,000 the level of federal adjusted gross
income above which the maximum subtraction is reduced; and applying
the Act to tax years after 2002.
House Action
- 2/6
- First Reading Ways and Means
- 2/19
- Hearing 2/27 at 1:00 p.m.
Senate Action
- No Action
- Sponsored by:
- Delegate Anthony J. O'Donnell, District 29C
- Delegate George W. Owings, III, District 27B
- Bill indexed under the following Subjects:
- ARMED FORCES -see also- MILITIA
- EXEMPTIONS
- INCOME TAX
- RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT
- Bill affects the following Statutes:
- Tax - General
- (
10-207 ,
10-207
)
- Bill Text:
First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
None offered
