SB 0823 Exempts pension and retirement income of seniors from state income tax
Sponsor:Cauthorn Co-Sponsor(s)
LR Number:3334S.01I Fiscal Note:3334-01
Committee:Ways and Means
Last Action:02/12/02 - Hearing Conducted S Ways & Means Committee Journal page:
Effective Date:January 1, 2003
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Current Bill Summary

SB 823 - This act exempts from a senior (age 65 and over) individual taxpayer's state adjusted gross income the amount of annuity, pension and retirement allowances provided to the taxpayer during the tax year. The exemption makes those amounts no longer subject to state income tax.

This act takes effect for tax years beginning on or after January 1, 2003.

This act is similar to SB 403 (2001).