HB1947 - INCOME TAX - Boucher, Bill
HB1947 ALLOWS FEDERAL PENSIONS TO BE FULLY DEDUCTED FROM INCOME TAX.
Sponsor: Boucher, Bill (48) Effective Date:00/00/00
CoSponsor: LR Number:4109-01
Last Action: 04/16/98 - Referred: Ways and Means (H)
HB1947
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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BILL SUMMARIES

INTRODUCED

HB 1947 -- Income Tax

Sponsor:  Boucher

Under current law, pension income paid to a taxpayer by the
federal government is subject to a limited tax deduction of up
to $6,000 if the taxpayer's income is less than $25,000 when
filing single or $32,000 if a taxpayer files as married.  This
bill exempts all pension income paid to a taxpayer by the
federal government, regardless of the taxpayer's income.

This bill will become effective January 1, 1999.


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Last Updated November 12, 1998 at 1:56 pm