2022 Session

Budget Amendments - SB29 (Member Request)

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Chief Patron: Chase
SB 586: Military Benefits/Income Tax Subtraction (language only) (language only)

Item 0 #2s

Item 0 #2s



Page 1, line 35, strike "$48,252,532,509" and insert "$48,094,532,509"

Page 1, line 41, strike "$52,517,677,137"and insert "$52,359,677,137"

Page 2, strike "$159,647,098,266" and insert "$159,489,098,266"


(This amendment accompanies Senate Bill 586, a bill that would establish 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 companion bill defines military benefits to include military retirement income and benefits paid to the surviving spouse of a veteran and contains an emergency clause. The amendment accounts for a general fund revenue reduction of $158.0 million in the current fiscal year.)