OR SB225 | 2025 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on January 13 2025 - 25% progression
Action: 2025-02-04 - Public Hearing Scheduled.
Pending: Senate Veterans, Emergency Management, Federal and World Affairs Committee
Hearing: Feb 4 @ 1:00 pm in HR B
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 13 2025 - 25% progression
Action: 2025-02-04 - Public Hearing Scheduled.
Pending: Senate Veterans, Emergency Management, Federal and World Affairs Committee
Hearing: Feb 4 @ 1:00 pm in HR B
Text: Latest bill text (Introduced) [PDF]
Summary
Exempts from state income tax up to $17,500 received by a person 62 years of age or younger as retirement pay or pension for service in the Armed Forces. The Act applies to tax years that start on or after January 1, 2025. The Act takes effect on the 91st day after sine die. (Flesch Readability Score: 61.6). Exempts from state income tax up to $17,500 in retirement pay or pension received for service in the Armed Forces of the United States for a taxpayer who is receiving retirement pay or pension for service in the Armed Forces of the United States and who has not attained 63 years of age before the close of the taxable year for which a return is filed. Applies to tax years beginning on or after January 1, 2025. Takes effect on the 91st day following adjournment sine die.
Title
Relating to taxable income exemption for military taxpayers; prescribing an effective date.
Sponsors
Sen. James Manning [D] | Sen. Janeen Sollman [D] | Sen. Lew Frederick [D] | Sen. Mark Meek [D] |
Sen. Deb Patterson [D] | Sen. Floyd Prozanski [D] | Sen. Lisa Reynolds [D] | Sen. Kathleen Taylor [D] |
History
Date | Chamber | Action |
---|---|---|
2025-02-04 | Senate | Public Hearing Scheduled. |
2025-01-17 | Senate | Referred to Veterans, Emergency Management, Federal and World Affairs. |
2025-01-13 | Senate | Introduction and first reading. Referred to President's desk. |