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Senate panel lays over bill to exempt rolled-over military pension portions from state income tax
Summary
A bill (SF 4) that would let Minnesotans who rolled military pension buybacks into federal civil service pensions claim the same state income-tax exclusion as direct military pensions was presented, discussed by the sponsor and a veteran witness, and laid over for omnibus consideration after the committee adopted an author’s amendment.
Senate File 4, presented Feb. 5 to the Minnesota Senate Taxes Committee, would let portions of federal civil service pensions that reflect prior military service (for example, military time an employee paid back to be credited toward a federal civil-service annuity) be excluded from Minnesota taxable income in the same way direct military retirement annuities are.
The bill’s sponsor, Senator Andrew Rarick, told the committee, “This is a pretty simple bill,” and said the measure applies where a veteran bought back military service and that military retirement amounts rolled into a…
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