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Committee hears extension of certain retirement income tax credit; analysts note phaseout and aging-index issues
2608560 · March 12, 2025
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Summary
Senate Bill 112, which would extend a retirement-income tax credit for low-income seniors, received an LRO briefing. Analysts said the credit’s income thresholds are not indexed to inflation, reducing the number of beneficiaries over time.
The Senate Committee on Finance and Revenue heard a Legislative Revenue Office briefing on Senate Bill 112 on March 12. The bill would extend for six years an existing credit designed to provide tax relief…
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