Bill Text: IN HB1173 | 2011 | Regular Session | Introduced
Bill Title: Taxation of civil service annuities.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced - Dead) 2011-02-08 - Representative Moses added as coauthor [HB1173 Detail]
Download: Indiana-2011-HB1173-Introduced.html
Citations Affected: IC 6-3-2-3.7.
Synopsis: Taxation of civil service annuities. Increases the civil
service annuity income tax deduction from $2,000 to $13,000 over a
seven year phase-in period. Provides that the deduction is available to
a surviving spouse.
Effective: January 1, 2011 (retroactive).
January 10, 2011, read first time and referred to Committee on Ways and Means.
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A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
(1)
(A) 2011 and 2012, the first five thousand dollars ($5,000);
(B) 2013 and 2014, the first eight thousand dollars ($8,000);
(C) 2015 and 2016, the first eleven thousand dollars ($11,000); and
(D) 2017 and thereafter, the first thirteen thousand dollars ($13,000);
which is received by the individual or the individual's surviving spouse during the taxable year from a federal civil service annuity
and which is included in adjusted gross income under Section 62
of the Internal Revenue Code; minus
(2) the total amount of Social Security benefits and railroad
retirement benefits received by the individual or the individual's
surviving spouse during the taxable year. However, the
(b) An individual is only entitled to the deduction provided by this
section only if the individual is at least sixty-two (62) years of age
before the end of the taxable year. This subsection does not apply to
the individual's surviving spouse.