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DE HB217
Bill
Status
Introduced
6/30/2013
Primary Sponsor
Darryl Scott
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AI Summary
- Excludes federal pensions, including military retirement income, from Delaware state income tax for persons 60 years of age or older, with phased-in maximum exclusion amounts
- Sets maximum pension exclusion at $22,500 in 2014, $30,000 in 2015, and $37,500 for tax years thereafter
- Requires reduction of the exclusion by any Social Security benefits received that are included in federal adjusted gross income
- Applies to amounts exceeding the existing $12,500 exclusion threshold up to the new maximum limits
- Aims to equalize tax treatment between federal retirees not covered by Social Security and those receiving exempt Social Security benefits
Legislative Description
An Act To Amend Title 30 Of The Delaware Code Relating To The Personal Income Tax.
Last Action
Introduced and Assigned to Revenue & Finance Committee in House
6/30/2013
Committee Referrals
Revenue & Finance6/30/2013
Full Bill Text
No bill text available