h_fin_2017a_2017-04-26t11:48:57z2 Hearing Summary

Date: 04/26/2017

Location:

12:51 PM -- SB17-075



Representatives Landgraf and Danielson, co-prime sponsors, presented Senate Bill 17-075, which allows an income tax deduction for all annual military retirement benefits received by individuals of all ages beginning in tax year 2017. Under current law, qualifying taxpayers ages 55 to 64 may deduct up to $20,000 in retirement income from their taxable income a year and qualifying taxpayers ages 65 and older may deduct up to $24,000 a year. Committee members received a memo describing the estimated fiscal impact of the bill if amendment L.006 is adopted, prepared by Legislative Council Staff (Attachment D). Committee members also received a fact sheet on the bill prepared by the United Veterans Committee (Attachment E).



17HouseFin0426AttachD.pdf 17HouseFin0426AttachE.pdf



12:57 PM -- Mr. Eric Tausch, representing retired veterans, testified in support of the bill and responded to comments and questions from the bill.



01:04 PM -- Mr. Frank McCurdy, representing the United Veterans Committee, testified in support of the bill.



01:08 PM -- Ms. Leanne Wheeler, representing the United Veterans Committee, testified in support of the bill.



01:11 PM -- Mr. David Ortiz, representing the United Veterans Committee, testified in support of the bill.



01:15 PM -- Ms. Shelly Kalkowski, representing the United Veterans Committee, testified in support of the bill.



01:26 PM -- Ms. Amber Egbert, representing the Department of Revenue, responded to committee questions about the bill.