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Committee advances SB 313 to resolve military-retirement tax exclusion issue; DFA estimates $66,000 impact
Summary
The Senate Revenue & Tax Committee voted to pass SB 313, which fixes a tax-code interaction that prevented some military retirees and survivors from receiving intended exemptions; DFA estimated a $66,000 revenue impact and said about 700–800 filers were affected annually.
Senator Dismain presented SB 313 to the Senate Revenue & Tax Committee and reported that a fiscal-impact statement had been received estimating a minimal revenue impact of about $66,000. The bill amends a provision in the state's tax code that had the unintended consequence of preventing eligible filers from receiving the full $6,000 exclusion for…
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