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IN HB1645
Bill
Status
1/24/2019
Primary Sponsor
Ben Smaltz
Click for details
AI Summary
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100% state income tax deduction for all military service income (including retirement and survivors' benefits) received by veterans or their surviving spouses, effective January 1, 2020
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Establishes the veterans service officer fund administered by the Indiana Veterans' Affairs Commission to provide salary grants to counties for veterans service officers who work at least 1,000 hours annually
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County grants calculated as $42,000 multiplied by a percentage based on veteran population: 25% (1-1,500 veterans), 50% (1,501-3,000), 75% (3,001-4,500), or 100% (over 4,500)
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Fund sources include general assembly appropriations, donations, interest, and surplus lottery reserves from the Build Indiana fund
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Repeals the prior limited military income deduction ($5,000 for active/reserve income plus $6,250 for retirement benefits) and replaces it with the unlimited deduction
Legislative Description
Veterans. Provides a 100% state income tax deduction for all military service income received by an individual or the individual's surviving spouse. Establishes the veterans service officer fund (fund) to provide funding for grants to counties for salaries for veterans service officers. Provides that the fund is administered by the Indiana veterans' affairs commission (commission). Provides that the amount of a grant that the commission may award to a county per year is equal to: (1) $42,000; multiplied by (2) the following: (A) 25%, in the case of a county with at least one veteran but not more than 1,500 veterans. (B) 50%, in the case of a county with more than 1,500 veterans but not more than 3,000 veterans. (C) 75%, in the case of a county with more than 3,000 veterans but not more than 4,500 veterans. (D) 100%, in the case of a county with more than 4,500 veterans. Adds the commission as an eligible recipient for appropriations from the build Indiana fund (surplus lottery reserves) only for deposit in the fund.
Last Action
First reading: referred to Committee on Ways and Means
1/24/2019