SB 0326 Exempts veterans over 65 from state and local taxes
LR Number:1184S.01I Fiscal Note:1184-01
Committee:Ways and Means
Last Action:01/27/03 - Second Read and Referred S Ways and Means Committee Journal page:S138
Effective Date:August 28, 2003
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Current Bill Summary

SB 326 - This act exempts any veteran of any branch of the United States military who has reached the age of 65 years from all state and local taxes.

Any revenue lost as the result of the exemption by counties and political subdivisions of this state will be replaced through appropriations to the "Local Revenue Replacement Fund" which is created by this act. Each political subdivision which loses revenue as a result of this exemption must certify such revenue loss to the commissioner of administration by November 1 for losses accrued in the preceding year.

This act is identical to HB 1252 (2002).