IN SB0201

Provides a 100% income tax deduction for federal civil service annuity income received by individuals or their surviving spouses, effective January 1, 2015.

Eliminates the previous age requirement (age 62) for claiming the federal civil service annuity deduction.

Replaces the prior deduction formula (limited to first $2,000 of annuity income minus social security and railroad retirement benefits) with a complete deduction of all federal civil service annuity income.

Applies to taxable years beginning after December 31, 2014, with the amendment provision expiring July 1, 2018.

Amends Indiana Code section IC 6-3-2-3.7 concerning adjusted gross income tax deductions.