HOUSE BILL 1394

File Code: Taxes - Income

Sponsored By:

Delegate Summers

Entitled:

Income Tax - Subtraction Modification - Retirement Income

Synopsis:

Increasing the maximum amount allowed as a subtraction modification under the State income tax for specified retirement income of an individual who is at least 70 years old or who is totally disabled; reducing the maximum amount of retirement income allowed as a subtraction modification by the amount of Social Security benefits received; providing that the amount of the subtraction modification may not exceed specified amounts during specified taxable years; applying the Act to taxable years after December 31, 2011; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.

House Action

2/24

First Reading House Rules and Executive Nominations

3/5

Re-referred Ways and Means

3/6

Hearing 3/20 at 1:00 p.m.

Senate 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

All documents except Roll Call Votes are displayed in PDF format:

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments: None offered