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HB 1394 - Income Tax - Subtraction Modification - Retirement Income
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Tracking Level: No Position
Sponsor: Delegate Summers
Last Action: 3/6/2012 - H Hearing 3/20 at 1:00 p.m.
House Committee:
Assigned To:
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Taxes and RevenuesNext Bill

Staff Analysis of the Legislation


Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text
BILL INFO-2012 Regular Session-HB 1394
2012 Regular Session

HOUSE BILL 1394

File Code: Taxes - Income
Sponsored By:
Delegate Summers
Entitled:
Income Tax - Subtraction Modification - Retirement Income

Synopsis:

Increasing the maximum amount allowed as a subtraction modification under the State income tax for specified retirement income of an individual who is at least 70 years old or who is totally disabled; reducing the maximum amount of retirement income allowed as a subtraction modification by the amount of Social Security benefits received; providing that the amount of the subtraction modification may not exceed specified amounts during specified taxable years; applying the Act to taxable years after December 31, 2011; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
House Action
2/24
First Reading House Rules and Executive Nominations
3/5
Re-referred Ways and Means
3/6
Hearing 3/20 at 1:00 p.m.
Senate Action
No Action

Bill indexed under the following Subjects:

Disabilities -see also- Blind; Deaf; Developmental
Elderly Persons
Exemptions
Income Tax
Retirement Systems -see also- Mandatory Retirement

Bill affects the following Statute:

Tax - General
( 10-209 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered