HCS HB 82 -- INCOME TAX CREDIT FOR MILITARY RETIREMENT BENEFITS
(Kraus)

COMMITTEE OF ORIGIN:  Committee on Veterans

Beginning January 1, 2010, this substitute authorizes an income
tax deduction from a taxpayer's Missouri adjusted gross income
for 15% of any military retirement income, regardless of age or
income.  The tax deduction rate will increase by 15% annually
until 2016 when it is fully phased in.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of $0 in
FY 2010, More than $127,811 (Expected to exceed $1 million) in
FY 2011, and More than $208,593 (Expected to exceed $1 million)
in FY 2012.  No impact on Other State Funds in FY 2010, FY 2011,
and FY 2012.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:23 am