HB518
Income tax, state; Foreign Service retirement benefits subtraction.
Summary
As Introduced. Income tax; Foreign Service retirement benefits subtraction.
Establishes for certain individuals receiving Foreign Service retirement benefits an income tax subtraction of such benefits up to $5,000 in taxable year 2024, up to $10,000 in taxable year 2025, up to $15,000 in taxable year 2026, and up to $20,000 in taxable year 2027 and each taxable year thereafter. ... (More) The bill defines Foreign Service retirement benefits as any retirement income received by an individual for employment in the Foreign Service of the United States and as an eligible member of the Foreign Service Retirement and Disability System or the Foreign Service Pension System. (Less)-
Bill History
- 01/08/2024 - House: Prefiled and ordered printed; offered 01/10/24 24100290D
- 01/08/2024 - House: Referred to Committee on Finance
- 02/02/2024 - House: Assigned Finance sub: Subcommittee #1
- 02/04/2024 - House: Impact statement from TAX (HB518)
- 02/05/2024 - House: House subcommittee amendments and substitutes offered
- 02/13/2024 - House: Left in Finance
