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1999 SESSION

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SB 803 Income tax; subtraction for first $15,000 of military basic pay.

Introduced by: Edward L. Schrock | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; subtraction for first $15,000 of military basic pay. For taxable years beginning on or after January 1, 2000, allows a subtraction of $15,000 from income tax for military basic pay with such amount being reduced dollar-for-dollar when the taxpayer’s military basic pay exceeds $15,000, and with no subtraction allowed if such basic pay equals or exceeds $30,000.

The second enactment provides that for purposes of the computations required under the Personal Property Tax Relief Act of 1998, the estimated decrease in revenue attributable to the provisions of this Act shall be considered as receipts or amounts actually collected.

FULL TEXT

• 01/13/99  Senate: Presented & ordered printed 995217809  pdf

HISTORY

• 01/13/99  Senate: Presented & ordered printed 995217809
• 01/13/99  Senate: Referred to Committee on Finance
• 02/02/99  Senate: Left in Finance
• 02/02/99  Senate: Incorporated in other legislation (SB1160-Walker)