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ND HB1339
Bill
Status
1/13/2015
Primary Sponsor
Mark Owens
Click for details
AI Summary
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Excludes municipal, state, and federal retirement pension payments and social security benefits from North Dakota taxable income calculations, reducing the taxable income base for income tax purposes.
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Modifies the homestead credit definition of "income" to clarify that social security and retirement benefits are included when calculating eligibility, but certain exclusions apply for federal rent subsidies and amounts excluded by federal or state law.
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Amends the marriage penalty credit definition of "qualifying income" to exclude municipal, state, and federal retirement pensions from the calculation, while continuing to include other retirement plan income and social security benefits.
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Effective for taxable years beginning after December 31, 2014.
Legislative Description
A homestead credit exclusion and an income tax exclusion for municipal, state, and federal retirement pension payments and social security benefits; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 26 nays 67
2/19/2015