| HB 0152 | Relating to Deductions for Certain Savings Account Earnings |
| Sponsor: | KEEVEN | Handling House Bill: | |
| Committee: | WAYS | LR Number: | L0525.01I |
| Last Action: | 01/18/95 - Referred H Ways and Means Committee | ||
| Title: | |||
| Effective Date: | |||
HB0152 Keeven, Ronald P.
P R E F I L E D
HB 152 -- Income Tax
This bill authorizes a state income tax deduction for interest earned on certain saving accounts with certain financial institutions. The maximum amount of deduction allowed is $100 for the 1996 taxable year, increasing by $50 for each taxable year thereafter, until the taxable year 2000 when the deduction is capped at a maximum of $350.
This bill has an effective date of January 1, 1996, and applies to all taxable years beginning after December 31, 1995.