ARIZONA HOUSE OF REPRESENTATIVES

Fifty-fourth Legislature

Second Regular Session

House: WM DP 4-2-4-0

HB 2676: veterans; income tax subtraction; increase

Sponsor:  Representative Griffin, LD 14

Caucus and COW

Overview

Establishes that benefits, annuities and pensions received as retired or retainer pay of uniformed service to the United States for taxable years beginning January 1, 2020 will not be included in a residents Arizona gross income.

History

Current law subtracts up to $3,500 from Arizona gross income for benefits, annuities and pensions received as retired or retainer pay of uniform service to the United States for taxable years beginning from and after December 31, 2018 through December 31, 2019 (A.R.S § 43-1022).

Provisions

1.    ☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal NoteSubtracts from Arizona gross income, in full, benefits, annuities and pensions received as retired or retainer pay of uniformed service to the United States for taxable years beginning January 1, 2020. (Sec. 1)

2.    This act applies retroactively to taxable years beginning January 1, 2020. (Sec. 2)

3.    Contains technical changes. (Sec. 1)

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7.    Initials: VP/BBG                Caucus & COW

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