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IN HB1010
Bill
Status
5/1/2019
Primary Sponsor
Robert Cherry
Click for details
AI Summary
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Phases in a full income tax deduction for military retirement and survivor's benefits over four years: 25% of benefits above $6,250 deductible in 2019, 50% in 2020, 75% in 2021, and 100% after 2021
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Maintains the existing $5,000 deduction for active military service income (non-retirement)
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Applies to individuals or surviving spouses who received benefits from service in U.S. armed forces, including Army, Navy, Air Force, Coast Guard, Marine Corps, Merchant Marine, and Indiana National Guard
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Effective retroactively to January 1, 2019, with the enabling section expiring June 30, 2022
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Declared an emergency measure for immediate implementation
Legislative Description
Income tax deductions. Increases the income tax deduction for income from military retirement or survivor's benefits beginning in 2019.
Last Action
Public Law 162
5/1/2019