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Senate subcommittee advances SB 1 to exempt part of military retirement pay from California income tax
Summary
A Senate subcommittee voted 4-0 to pass SB 1 out of committee to the appropriations committee. The bill would exempt the first $20,000 of military retirement and survivor benefits from state income tax for taxpayers below specified adjusted gross income thresholds.
Senate subcommittee members advanced SB 1, a bill to exempt a portion of military retirement and survivor benefits from California income tax, voting unanimously to refer the measure to the Senate Appropriations Committee.
The bill’s author, Senator Cialdo, said SB 1 "exempts the first 20000 dollars from military retirement and survivors' benefits pay and can only be applied to families with an adjusted gross income under $250,000 or an individual's AGI under $125,000." He told the subcommittee…
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