Bill Text: NJ ACR110 | 2020-2021 | Regular Session | Introduced
Bill Title: Urges Congress to pass legislation that exempts military retirement pay from federal income taxation.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2020-02-13 - Introduced, Referred to Assembly Military and Veterans' Affairs Committee [ACR110 Detail]
Download: New_Jersey-2020-ACR110-Introduced.html
ASSEMBLY CONCURRENT RESOLUTION No. 110
STATE OF NEW JERSEY
219th LEGISLATURE
INTRODUCED FEBRUARY 13, 2020
Sponsored by:
Assemblywoman CAROL A. MURPHY
District 7 (Burlington)
SYNOPSIS
Urges Congress to pass legislation that exempts military retirement pay from federal income taxation.
CURRENT VERSION OF TEXT
As introduced.
A Concurrent Resolution respectfully urging Congress to exempt military retirement pay from federal income taxation.
Whereas, Retirement payments received by individuals for service in the military that are based on an individual's length of service, or length of service and age, and which are not related to a disability suffered by the individual, are taxable for federal income tax purposes; and
Whereas, Members of the Armed Forces and of the Reserves dedicate years of their lives to the service of this country, often being separated from their families for extended periods, forgoing more lucrative employment, and facing life-threatening dangers; and
Whereas, Generally, 20 years or more of service on active duty in the United States Army, Navy, Air Force, or Marine Corps may qualify an individual for military retirement pay; and
Whereas, Qualifying years of service for purposes of military retirement pay generally include those served in active service, active duty for training, active duty for special work, temporary tour of active duty, full-time National Guard duty, and Active Guard or Reserve time; and
Whereas, Retirement is generally viewed as a time for rest and relaxation and an opportunity to pursue hobbies or interests that were precluded by the demands of full-time employment; and
Whereas, Military retirees face unique challenges, including reassimilating into civilian life, finding affordable housing, re-entry into the civilian job market, and possibly dealing with issues such as post-traumatic stress; and
Whereas, Military retirement pay is distinguishable from a veteran's pension, which is a nontaxable benefit for individuals that have served a requisite number of days in active duty service during wartime, and meet certain other criteria; and
Whereas, Individual states vary in their tax treatment of military retirement pay, and the extent to which they may allow certain retirement pay to be excluded from taxation by the particular state; and
Whereas, In light of their considerable sacrifice, and in recognition of their years of service to the United States and its people, individuals who have served in the Armed Forces or Reserves should be relieved of the burden of federal income taxation of their military retirement pay; now, therefore,
Be It Resolved by the General Assembly of the State of New Jersey (the Senate concurring):
1. The Legislature of the State of New Jersey respectfully urges Congress to enact legislation that exempts military retirement pay from federal income taxation.
2. Copies of this resolution, as filed with the Secretary of State, shall be transmitted by the Clerk of the General Assembly or the Secretary of the Senate to every member of the New Jersey Congressional delegation.
STATEMENT
This resolution respectfully urges Congress to enact legislation that exempts military retirement pay from federal income taxation. Members of the Armed Forces and of the Reserves dedicate years of their lives to the service of this country, often being separated from their families for extended periods, forgoing more lucrative employment, and facing life-threatening dangers. Generally, 20 years or more of service on active duty in the United States Army, Navy, Air Force, or Marine Corps may qualify an individual for military retirement pay.
Military retirees face unique challenges, including reassimilating into civilian life, finding affordable housing, re-entry into the civilian job market, and possibly dealing with issues such as post-traumatic stress. In light of their considerable sacrifice, and in recognition of their years of service to the United States and its people, individuals who have served in the Armed Forces or Reserves should be relieved of the burden of federal income taxation of their military retirement pay.
