SB528:

Income tax, state; military benefits subtraction.

Bill Summary:

Income tax; military benefits subtraction. Provides an individual income tax subtraction for up to $5,000 of military benefits in taxable year 2022, up to $10,000 in taxable year 2023, up to $15,000 in taxable year 2024, and up to $20,000 in taxable year 2025 and each taxable year thereafter. The subtraction is limited to recipients of such military benefits who are age 60 or older.

Bill Patron: Reeves

Last Action(s):
(House) Delegates: McGuire, Orrock, Torian March 2, 2022
(Senate) Continued to 2022 Sp. Sess. 1 pursuant to HJR455 March 12, 2022

Bill Status:
Passed House
Passed Senate
Carried Over