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 | |
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VOTE
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Becker K.
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No
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Conti
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Yes
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Garnett
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No
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Moreno
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No
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Pabon
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No
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Roupe
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Yes
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Sias
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Yes
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Van Winkle
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Yes
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Wilson
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Yes
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Foote
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No
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Court
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No
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YES: 5 NO: 6 EXC: 0 ABS: 0 FINAL ACTION: FAIL
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| 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 | |
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VOTE
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Becker K.
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Yes
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|
|
Conti
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No
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|
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Garnett
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Yes
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|
Moreno
|
Yes
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|
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Pabon
|
Yes
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Roupe
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No
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Sias
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No
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Van Winkle
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No
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Wilson
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No
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Foote
|
Yes
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Court
|
Yes
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Final YES: 6 NO: 5 EXC: 0 ABS: 0 FINAL ACTION: PASS
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