SB586:

Income tax, state; military benefits subtraction.

Bill Summary:

Income tax; military benefits subtraction; emergency.
Establishes an income tax subtraction for up to $20,000 of military
benefits in taxable year 2021, up to $30,000 in taxable year 2022,
and up to $40,000 in taxable year 2023 and each year thereafter.
The bill defines military benefits to include military retirement
income and benefits paid to the surviving spouse of a veteran. The
bill contains an emergency clause.