Bill Text: IN SB0039 | 2011 | Regular Session | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Tax structure study.
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: (Passed) 2011-05-18 - Effective 05/09/2011 [SB0039 Detail]
Download: Indiana-2011-SB0039-Introduced.html
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear inthis style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type orthis style type reconciles conflicts
between statutes enacted by the 2010 Regular Session of the General Assembly.
Bill Title: Tax structure study.
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: (Passed) 2011-05-18 - Effective 05/09/2011 [SB0039 Detail]
Download: Indiana-2011-SB0039-Introduced.html
Introduced Version
SENATE BILL No. 39
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-3-2-3.7.
Synopsis: Taxation of civil service annuities. Increases the federal
civil service annuity state income tax deduction from $2,000 to
$10,000 over a multi-year phase-in period beginning in 2012. Provides
that the deduction is available to a surviving spouse.
Effective: January 1, 2012.
Landske, Mrvan
January 5, 2011, read first time and referred to Committee on Appropriations.
Introduced
First Regular Session 117th General Assembly (2011)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
SENATE BILL No. 39
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-3-2-3.7; (11)IN0039.1.1. -->
SECTION 1. IC 6-3-2-3.7 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JANUARY 1, 2012]: Sec. 3.7. Each taxable
year, (a) Except as provided by subsection (b), an individual or the
individual's surviving spouse is entitled to an adjusted gross income
tax deduction each taxable year equal to the remainder of:
(1)the first two thousand dollars ($2,000) for taxable years
beginning in:
(A) 2012 and 2013, the first four thousand dollars ($4,000);
(B) 2014 and 2015, the first six thousand dollars ($6,000);
(C) 2016 and 2017, the first eight thousand dollars ($8,000); and
(D) 2018 and thereafter, the first ten thousand dollars ($10,000);
which is received by the individual or the individual's surviving spouse during the taxable year from a federal civil service annuity and which is included in adjusted gross income under Section 62 of the Internal Revenue Code; minus
(2) the total amount of Social Security benefits and railroad retirement benefits received by the individual or the individual's surviving spouse during the taxable year.However,
(b) The individual is only entitled to the deduction provided by this section if the individual is at least sixty-two (62) years of age before the end of the taxable year. This subsection does not apply to an individual's surviving spouse.
(1)
(A) 2012 and 2013, the first four thousand dollars ($4,000);
(B) 2014 and 2015, the first six thousand dollars ($6,000);
(C) 2016 and 2017, the first eight thousand dollars ($8,000); and
(D) 2018 and thereafter, the first ten thousand dollars ($10,000);
which is received by the individual or the individual's surviving spouse during the taxable year from a federal civil service annuity and which is included in adjusted gross income under Section 62 of the Internal Revenue Code; minus
(2) the total amount of Social Security benefits and railroad retirement benefits received by the individual or the individual's surviving spouse during the taxable year.
(b) The individual is only entitled to the deduction provided by this section if the individual is at least sixty-two (62) years of age before the end of the taxable year. This subsection does not apply to an individual's surviving spouse.
