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2025 Session

Budget Amendments - SB800 (Member Request)

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Chief Patron: Reeves
Military Retirement Income Subtraction (SB 865) (language only)

Item 0 #2s

Item 0 #2s

Revenues
Revenues

Language

Page 1, line 40, strike "$31,406,549,381" and insert "$31,396,549,381".

Page 1, line 40, strike "$62,054,985,843" and insert "$62,044,985,843".



Explanation

(This amendment accompanies Senate Bill 865 that expands the income tax subtraction on military retirement benefits by removing the $40,000 cap on deduction. This amendment reduces general fund revenue by $10.0 million the second year as a placeholder. The actual revenue impact is to be determined.)