Introduced Version
HOUSE BILL No. 1355
_____
DIGEST OF INTRODUCED BILL
Citations Affected:
IC 6-3-2-4.
Synopsis: Tax deduction for active duty military income. Provides that
an individual who is serving on active duty in the armed forces of the
United States is entitled to an adjusted gross income tax deduction
equal to the entire amount of the income received by the individual for
the individual's active duty service.
Effective: January 1, 2002.
Duncan
January 11, 2001, read first time and referred to Committee on Ways and Means.
Introduced
First Regular Session 112th General Assembly (2001)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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NEW will appear in that style type in the introductory clause of each SECTION that adds
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HOUSE BILL No. 1355
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 6-3-2-4; (01)IN1355.1.1. -->
SECTION 1.
IC 6-3-2-4
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2002]: Sec. 4.
(a) Each taxable year, an
individual who is serving on active duty in the armed forces of the
United States, including the army, navy, air force, coast guard,
marine corps, merchant marine, Indiana army national guard, or
Indiana air national guard, is entitled to an adjusted gross income
tax deduction equal to the entire amount of the income received
during the taxable year by the individual for the individual's active
duty service in the armed forces.
(b) Each taxable year, an individual or the individual's surviving
spouse is entitled to an adjusted gross income tax deduction for the first
two thousand dollars ($2,000) of income
other than income received
for active duty service, including retirement or survivor's benefits,
received during the taxable year by the individual or the individual's
surviving spouse for the individual's service in an active or reserve
component of the armed forces of the United States, including the
army, navy, air force, coast guard, marine corps, merchant marine,
Indiana army national guard, or Indiana air national guard. However,
a person who is less than sixty (60) years of age on the last day of the
person's taxable year is not, for that taxable year, entitled to a deduction
under this section for retirement or survivor's benefits.
SOURCE: ; (01)IN1355.1.2. -->
SECTION 2. [EFFECTIVE JANUARY 1, 2002]
IC 6-3-2-4
, as
amended by this act, applies only to taxable years beginning after
December 31, 2001.