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s_fin_2016a_2016-02-16t14:02:20z3 Hearing Summary

Date: 02/16/2016



Final

BILL SUMMARY for SB16-086



SENATE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Adopt Amendment L.001 (Attachment K). The motion f

Refer Senate Bill 16-086 to the Committee on Appro
FAIL

PASS







04:38 PM -- SB16-086



Senator Neville, prime sponsor, presented Senate Bill 16-086. 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. Senator Neville distributed a table prepared by the University of Florida Bureau of Economic and Business Research about revenues and expenditures to state and local governments from retirees and non-retirees in Florida in 2010 (Attachment J).



16SenateFin0216AttachJ.pdf16SenateFin0216AttachJ.pdf

BILL: SB16-086
TIME: 04:47:11 PM
MOVED: Kerr
MOTION: Adopt Amendment L.001 (Attachment K). The motion failed on a vote of 2-3.

16SenateFin0216AttachK.pdf16SenateFin0216AttachK.pdf
SECONDED:
VOTE
Holbert
No
Johnston
Yes
Kerr
Yes
Hill
No
Neville T.
No
YES: 2 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: FAIL
BILL: SB16-086
TIME: 04:52:17 PM
MOVED: Neville T.
MOTION: Refer Senate Bill 16-086 to the Committee on Appropriations. The motion passed on a vote of 3-2.
SECONDED:
VOTE
Holbert
Yes
Johnston
No
Kerr
No
Hill
Yes
Neville T.
Yes
Final YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS







04:53 PM



The committee adjourned.




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