AN ACT ELIMINATING THE ESTATE AND GIFT TAXES AND CONCERNING THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS AND PENSION OR ANNUITY INCOME.
To (1) eliminate the estate and gift taxes, (2) eliminate the personal income tax on Social Security benefits, regardless of income, and (3) require that pension and annuity income be exempt from the personal income tax for taxable years commencing on or after January 1, 2022, rather than the current phase-out schedule.
Introduced by:
Rep. Tom O'Dea, 125th Dist.| New today | 2-4 days old | 5 days & older |
| Text of Bill | |
| Proposed Bill [doc] |
Co-sponsors for Amendment LCO:
Bill History
| Date | Action Taken | ||
|---|---|---|---|
| 2/9/2022 | Referred to Joint Committee on Finance, Revenue and Bonding |
Co-sponsors of HB-5027
Rep. Craig C. Fishbein, 90th Dist.
Rep. Tom Delnicki, 14th Dist.
Sen. Eric C. Berthel, 32nd Dist.
Rep. Gale L. Mastrofrancesco, 80th Dist.
NOTE: Please direct all inquiries regarding the status of bills to the Office of the House Clerk and/or Senate Clerks' Office.
