Bill
Bill > HB96
summary
Introduced
01/04/2022
01/04/2022
In Committee
01/04/2022
01/04/2022
Crossed Over
Passed
Dead
04/14/2022
04/14/2022
Introduced Session
2022 Regular Session
Bill Summary
Amend KRS 141.019 to exclude all distributions from military pension plans received by retired members of the United States military and their surviving spouses or former spouse under a survivor benefit plan from income taxation for taxable years beginning on or after January 1, 2022, and before January 1, 2026; require reporting by the Department of Revenue; amend KRS 131.190 to conform.
AI Summary
This bill amends the Kentucky Revised Statutes (KRS) to exclude all distributions from military pension plans received by retired members of the United States military and their surviving spouses or former spouses under a survivor benefit plan from income taxation for taxable years beginning on or after January 1, 2022, but before January 1, 2026. The bill also requires the Department of Revenue to provide certain reporting information to the Legislative Research Commission regarding the number of tax returns claiming the deduction, the total amount of the deductions claimed, and the total amount of the reduced tax liability by county and adjusted gross income range. Additionally, the bill amends KRS 131.190 to conform with the changes made in Section 1.
Sponsors (8)
Walker Thomas (R)*,
Chris Freeland (R),
Chris Fugate (R),
Richard Heath (R),
Regina Huff (R),
C. Edward Massey (R),
Nancy Tate (R),
Charles Wheatley (D),
Last Action
to Committee on Committees (H) (on 01/04/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.legislature.ky.gov/record/22RS/hb96.html |
| Fiscal Note for HB96 | https://apps.legislature.ky.gov/recorddocuments/note/22RS/hb96/FN.pdf |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/22RS/hb96/orig_bill.pdf |
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