HB 532 -- Income Tax Deduction for Military Pensions

Sponsor:  Williams (121)

Under current law, annuities, pensions, retirement allowances
and other retirement benefits provided to any person for service
in the uniformed services of the United States are subject to a
limited state income tax deduction of up to $6,000 of the
benefits paid based on income of the taxpayer.  This bill will
exempt from state income tax the total benefits received
regardless of income.

This bill will become effective January 1, 2000.