Loading chat...
MN SF131
Bill
Status
Introduced
1/11/2023
Primary Sponsor
Jason Rarick
Click for details
AI Summary
- Expands the income tax subtraction for military retirement pay under Minnesota Statutes 290.0132, subdivision 21
- Adds new subtraction eligibility for federal employee retirement system pensions (U.S. Code title 5, chapter 84) multiplied by the taxpayer's military service ratio
- Adds new subtraction eligibility for civil service retirement system pensions (U.S. Code title 5, chapter 83, subchapter III) multiplied by the taxpayer's military service ratio
- Defines "military service ratio" as the years of service credited for military service divided by total service credited under the applicable federal code section
- Effective for taxable years beginning after December 31, 2022
Legislative Description
Subtraction expansion for military retirement pay
Last Action
Author added Nelson
1/12/2023
Committee Referrals
Taxes1/11/2023
Full Bill Text
No bill text available