SB 742 - This act provides an income tax exemption for victims who die as a result of wounds or injury incurred as a result of the terrorist attacks against the United States on September 11, 2001, or as a result of illness incurred as a result of an attack involving anthrax occurring on or after September 11, 2001, and before January 1, 2002. Such income tax exemption shall apply for the period beginning in the tax year such injuries occurred and ending in the tax year of such victim's death. The tax exemption provided by this act shall not apply to the amount of any tax imposed which would be computed by only taking into account the items of income, gain, or other amounts determined to be taxable under federal law, as described in the act.
This act shall not apply to any individual as a participant or conspirator in any such attack or a representative of such an individual.
This act is substantially similar to a provision contained in HCS/SB 676 (2020) and HCS/SS#2/SB 704 (2020).
JOSH NORBERG