HB2657--PRIVATEPENSIONS
SPONSOR: McGirl
Thisbillincreasesanindividual'sincometaxadjustmentsrelated
toprivatepensionsinthefollowingmanner:
(1)Single,HeadofHousehold--increasesfrom$25,000to
$50,000;
(2)MarriedFilingCombined--increasesfrom$32,000to$64,000;
and
(3)MarriedFilingSeparate--increasesfrom$16,000to$32,600
Thisbillincreasesthemaximumamounttobesubtractedfroma
taxpayer'sadjustedgrossincomefortaxyearsbeginningonor
afterJanuary1,2025,tothefirst$12,000ofanyretirement
allowancereceivedfromanyprivatelyfundedsources. Theprevious
maximumwas$6,000.
ThisbillissimilartoHB1423(2024)andHB356(2023).