HB 1272 -- Income Tax:  Military Pension Exemption

Sponsor:  Chrismer

Under current law, annuities, pensions, retirement allowances,
and other retirement benefits provided to any person for service
in the uniformed services of the United States are subject to a
limited state income tax deduction of up to $6,000 of the
benefits paid based on income of the taxpayer.  This bill will
exempt from state income tax the total military pension benefits
received, regardless of income or the amount.

The bill will become effective January 1, 2001.