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h_sa_2016a_2016-05-02t13:31:56z4 Hearing Summary

Date: 05/02/2016



Final

BILL SUMMARY for SB16-086



HOUSE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS


Votes: View--> Action Taken:
Postpone Senate Bill 16-086 indefinitely. The mot

Refer Senate Bill 16-086 to the Committee on Finan
PASS

FAIL







04:40 PM -- SB16-086



Representative Neville, sponsor, presented Senate Bill 16-086 to the committee. Under current law, qualifying taxpayers ages 55 to 64 may deduct up to $20,000 in pension or annuity income from their taxable income each year and qualifying taxpayers ages 65 and older may deduct up to $24,000 each year. This bill eliminates these limitations, allowing taxpayers to deduct the entire amount of their pension and annuity income from state taxable income beginning in tax year 2017.



Committee members discussed the bill with Representative Neville.



04:52 PM --
Chris Muntean, representing the Department of Revenue, responded to committee member questions.





04:53 PM



Representative Neville wrapped up his presentation of the bill.

BILL: SB16-086
TIME: 04:57:47 PM
MOVED: Neville P.
MOTION: Refer Senate Bill 16-086 to the Committee on Finance. The motion failed on a vote of 4-5.
SECONDED: Leonard
VOTE
Foote
No
Humphrey
Yes
Leonard
Yes
Neville P.
Yes
Primavera
No
Tyler
No
Wist
Yes
Lontine
No
Ryden
No
YES: 4 NO: 5 EXC: 0 ABS: 0 FINAL ACTION: FAIL






BILL: SB16-086
TIME: 04:57:21 PM
MOVED: Lontine
MOTION: Postpone Senate Bill 16-086 indefinitely. The motion passed on a vote of 5-4.
SECONDED: Foote
VOTE
Foote
Yes
Humphrey
No
Leonard
No
Neville P.
No
Primavera
Yes
Tyler
Yes
Wist
No
Lontine
Yes
Ryden
Yes
Final YES: 5 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: PASS







04:58 PM



The committee adjourned.




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