2020 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Reeves
SB 456: Income Tax Subtraction for Low-Income Military Veterans with a Service-Connected Disability (language only)

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"Official Revenue Estimates





(This amendment would provide the necessary general fund revenue adjustment associated with SB 456. This bill would create an income tax subtraction for military retirement income received by a veteran who has been rated with a 100 percent service-connected, permanent and total disability. The general fund reduction is estimated at $2.6 million the first year and $1.9 million the second year and is based on the Fiscal Impact Statement for a similar bill introduced in the 2019 Session of the General Assembly. The actual revenue impact has not yet been determined.)