Kelly Seyarto
- Republican
- Senator
- District 32
Author
The Personal Income Tax Law, in conformity with federal income tax laws, defines "gross income" as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income, including an exclusion for combat-related special compensation. This bill, for taxable years beginning on or after January 1, 2025, and before January 1, 2035, would exclude from gross income retirement pay received by a qualified taxpayer, as defined, during the taxable year, not to exceed $20,000, from the federal government for service performed in the uniformed services, as defined. The bill, for taxable years beginning on or after January 1, 2025, and before January 1, 2035, would also exclude from gross income annuity payments received by a qualified taxpayer, as defined, during the taxable year, not to exceed $20,000, pursuant to a United States Department of Defense Survivor Benefit Plan. The bill would make related findings and declarations. Existing law requires any bill authorizing a new tax expenditure to contain, among other things, specific goals, purposes, and objectives that the tax expenditure will achieve, detailed performance indicators, and data collection requirements. This bill also would include additional information required for any bill authorizing a new tax expenditure. This bill would take effect immediately as a tax levy.
May 23 hearing: Held in committee and under submission.
Set for hearing May 23.
May 12 hearing: Placed on APPR. suspense file.
Set for hearing May 12.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 4. Noes 0. Page 918.) (April 28). Re-referred to Com. on APPR.
Set for hearing April 28.
From committee: Do pass and re-refer to Com. on M. & V.A. (Ayes 5. Noes 0.) (March 12). Re-referred to Com. on M. & V.A.
Set for hearing March 12.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on REV. & TAX.
Referred to Coms. on REV. & TAX. and M. & V.A.
(Corrected December 12).
From printer. May be acted upon on or after January 2.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB1 | HTML |
| 12/02/24 - Introduced | |
| 02/20/25 - Amended Senate |
| Document | Format |
|---|---|
| 03/10/25- Senate Revenue and Taxation | |
| 04/28/25- Senate Committee on Military and Veterans Affairs | |
| 05/09/25- Senate Appropriations |
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