Income tax, state; military benefits subtraction. (SB528)

Introduced By

Sen. Bryce Reeves (R-Spotsylvania)

Progress

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

Description

Income tax; military benefits subtraction; emergency. Establishes an income tax subtraction for up to $20,000 of military benefits in taxable year 2021, up to $30,000 in taxable year 2022, and up to $40,000 in taxable year 2023 and each year thereafter. The bill defines military benefits to include military retirement income and benefits paid to the surviving spouse of a veteran. The bill contains an emergency clause. Read the Bill »

Status

01/12/2022: Awaiting a Vote in the Finance and Appropriations Committee

History

DateAction
01/12/2022Prefiled and ordered printed with emergency clause; offered 01/12/22 22104279D
01/12/2022Referred to Committee on Finance and Appropriations

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