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Legislation


2012 Regular Session

SENATE BILL 752

File Code: Taxes - Income
Sponsored By:
Senators Young, King, Kittleman, Klausmeier, Simonaire, and Stone
Entitled:
Income Tax - Subtraction Modification - Retirement Income

Synopsis:

Increasing the 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 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.
Senate Action
2/3
First Reading Budget and Taxation
2/8
Hearing 3/13 at 1:00 p.m.
3/7
Hearing cancelled
Hearing 3/13 at 1:30 p.m.
House Action
No Action

Sponsored by:

Senator Ronald N. Young, District 3
Senator Nancy J. King, District 39
Senator Allan H. Kittleman, District 9
Senator Katherine Klausmeier, District 8
Senator Bryan W. Simonaire, District 31
Senator Norman R. Stone, Jr., District 6

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
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