House Bill 420 Summary

• Amends Section 63-3022A of Idaho Code to allow an income tax deduction for military retirement benefits without age restrictions, regardless of whether the retired member or their widow/widower has attained age 65 or 62 with a disability classification.

• Sets the maximum deductible amount at the maximum social security benefits payable for the tax year, with adjustments made annually based on consumer price index changes under the Social Security Act.

• Applies the deduction to retirement benefits paid by the United States to retired military service members and their unremarried widows or widowers.

• Declares an emergency and makes the law retroactively effective to January 1, 2014.