SENATE BILL 1428
Revenue and Taxation (House)
Military retirement income, exempt
INCOME TAXES – Amends existing law to clarify that military retirement benefits are exempt regardless of the age or disability status of the retired military member or such member’s widow or widower.
RS31162 / S1428
When military members leave the service, they bring with them valuable knowledge and skills to the civilian workforce. Employers benefit from this as they get employees who are already trained, hardworking, have leadership skills know how to work in a team. Idaho’s veteran population is in decline and has been for many years. Thirty-seven (37) states do not currently tax military pensions, Idaho does until age sixty-five (65). As a result, veterans choose to move to much more military friendly states and Idaho loses the highly skilled individuals.
Estimated reduction in income tax from retired military pensions is $12,243,261.
| Date | Description |
|---|---|
| 03/18 | Introduced; read first time; referred to JR for Printing |
| 03/18 | Reported Printed; referred to Local Government & Taxation |
| 03/21 | Reported out of Committee with Do Pass Recommendation; Filed for second reading |
| 03/22 | Read second time; filed for Third Reading |
| 03/25 | Read third time in full – PASSED - 22-10-3 AYES – Adams, Anthon, Bernt, Burtenshaw, Cook, Guthrie, Harris, Hartgen, Just, Lakey, Lent, Okuniewicz, Rabe, Ruchti, Schroeder, Taylor, Trakel, VanOrden, Ward-Engelking, Winder, Wintrow, Zuiderveld NAYS – Carlson, Den Hartog, Foreman, Grow, Hart, Herndon, Lenney, Nichols, Ricks, Toews Absent and excused – Bjerke, Lee, Semmelroth Floor Sponsor - Trakel Title apvd - to House |
| 03/25 | Received from the Senate, Filed for First Reading |
| 03/25 | Read First Time, Referred to Revenue & Taxation |