Income tax, state; subtraction for veteran retirement compensation. (HB1045)

Introduced By

Del. Elizabeth Guzman (D-Dale City) with support from co-patron Del. Nadarius Clark (D-Portsmouth)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Income tax subtraction; veteran retirement compensation. Provides an individual income tax subtraction for certain amounts of the annual retirement compensation received by a veteran who is at least 65 years old for service as a member of the United States Armed Forces. The subtraction is equal to up to $10,000 in annual retirement compensation for taxable year 2022, up to $20,000 in taxable year 2023, up to $30,000 in taxable year 2024, and up to $40,000 for taxable year 2025 and thereafter. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2022Committee
01/12/2022Prefiled and ordered printed; offered 01/12/22 22103865D
01/12/2022Referred to Committee on Finance
01/27/2022Assigned Finance sub: Subcommittee #3
01/29/2022Impact statement from TAX (HB1045)
02/04/2022Subcommittee recommends laying on the table (7-Y 1-N)
02/15/2022Left in Finance

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