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h_fin_2016a_2016-05-05t10:57:00z3 Hearing Summary

Date: 05/05/2016



Final

BILL SUMMARY for SB16-001



HOUSE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Postpone Senate Bill 16-001 indefinitely. The mot

Refer Senate Bill 16-001 to the Committee on Appro
PASS

FAIL







12:20 PM -- SB16-001



Representative Landgraf, sponsor, introduced Senate Bill 16-001. Under current law, qualifying taxpayers ages 55 to 64 may deduct up to $20,000 in retirement benefits from their taxable income each year and qualifying taxpayers ages 65 and older may deduct up to $24,000 each year. As amended by the Senate Appropriations Committee, the bill eliminates these limitations for military retirement income, allowing taxpayers ages 55 and older to deduct the entire amount of their military retirement income from state taxable income beginning in tax year 2017. Other, non-military income is still subject to the existing deduction limits.

BILL: SB16-001
TIME: 12:26:41 PM
MOVED: Van Winkle
MOTION: Refer Senate Bill 16-001 to the Committee on Appropriations. The motion failed on a vote of 5-6.
SECONDED: Sias
VOTE
Becker K.
No
Conti
Yes
Garnett
No
Moreno
No
Pabon
No
Roupe
Yes
Sias
Yes
Van Winkle
Yes
Wilson
Yes
Foote
No
Court
No
YES: 5 NO: 6 EXC: 0 ABS: 0 FINAL ACTION: FAIL




BILL: SB16-001
TIME: 12:31:16 PM
MOVED: Foote
MOTION: Postpone Senate Bill 16-001 indefinitely. The motion passed on a vote of 6-5.
SECONDED: Moreno
VOTE
Becker K.
Yes
Conti
No
Garnett
Yes
Moreno
Yes
Pabon
Yes
Roupe
No
Sias
No
Van Winkle
No
Wilson
No
Foote
Yes
Court
Yes
Final YES: 6 NO: 5 EXC: 0 ABS: 0 FINAL ACTION: PASS














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