Bill Text: IN HB1173 | 2011 | Regular Session | Introduced

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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

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Introduced Version

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HOUSE BILL No. 1173

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DIGEST OF INTRODUCED BILL

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).

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Burton

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    January 10, 2011, read first time and referred to Committee on Ways and Means.

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Introduced

First Regular Session 117th General Assembly (2011)

PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2010 Regular Session of the General Assembly.

HOUSE BILL No. 1173

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    A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 6-3-2-3.7; (11)IN1173.1.1. -->     SECTION 1. IC 6-3-2-3.7 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JANUARY 1, 2011 (RETROACTIVE)]: Sec. 3.7. Each taxable year, (a) Except as provided by subsection (b), an individual or the individual's surviving spouse is entitled to an adjusted gross income tax deduction each taxable year equal to the remainder of:
        (1) the first two thousand dollars ($2,000) for taxable years beginning in:
            (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.

SOURCE: ; (11)IN1173.1.2. -->     SECTION 2. An emergency is declared for this act.