Connecticut-2015-SB00265-Introduced


General Assembly		*Proposed Bill No. 265*
*January Session, 2015*		LCO No. 1331
		01331
Referred to Committee on VETERANS' AFFAIRS
Introduced by:
SEN. MARTIN, 31st Dist.

AN ACT EXPANDING THE EXEMPTION FROM THE INCOME TAX FOR MILITARY RETIREMENT PAY.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That subparagraph (B)(xvii) of subdivision (20) of subsection (a) of section 12-701 of the general statutes be amended to provide a one hundred per cent exemption from the income tax for military retirement pay.

Statement of Purpose:

To provide tax relief for veterans by increasing the exemption from state income tax on military retirement pay from fifty per cent to one hundred per cent.