SB 0551 Raises the Dependency Exemption From $400 to $800
LR Number:S2136.03C Fiscal Note:2136-03
Committee:Ways and Means
Last Action:05/28/96 - S Inf Calendar S Bills for Perfection w/SCS
Title:SCS/SBs 551 & 639
Effective Date:August 28, 1996
Full Bill Text | All Actions | Senate Home Page | List of 1996 Senate Bills
Current Bill Summary

SCS/SB 551 - This act would raise the dependency exemption deduction from $400 to $800 beginning with the 1997 tax year.

This act also provides a tuition deduction on an individual's state income tax return. The tuition deduction is available only for dependents in grades 9-12, with the deduction capped at $2,500 for each dependent.

SB 485 has been incorporated in the SCS. This act is similar to SB 333, SB 334 (1995) and SB 480 (1996).