HB 2286 Summary

• Amends the law on property division in marriage dissolution proceedings to clarify how military retired or retainer pay is divided between spouses under federal law (Uniformed Services Former Spouses' Protection Act).

• Establishes specific formula language for calculating a former spouse's share of active duty military retirement pay based on the percentage of the marriage that overlapped with military service.

• Provides separate calculation method for reserve duty retirement pay using reserve retirement points earned during the marriage period.

• Imposes a two-year statute of limitations from the final dissolution of marriage for parties to apply for division of military disposable retired or retainer pay.

• Becomes effective November 1, 2012, and updates terminology throughout the statute from "divorce" to "dissolution of marriage."