(AP) – A renewed effort to exempt Arkansas military veterans'
retirement benefits from the income tax is one of the first bills filed ahead of
next year's legislative session.
Republican Rep. Charlene Fite filed the proposed tax break on Tuesday, the
first day for lawmakers to pre-file bills for the 2017 session. The proposal
would exempt veterans' retirement and survivor benefits from the state income
tax.
State finance officials said a similar tax break proposed last year would cost
the state $13 million a year when fully implemented. Fite's proposal comes
nearly a week after Republican Gov. Asa Hutchinson proposed a $50 million income
tax cut that would take effect in two years.
retirement benefits from the income tax is one of the first bills filed ahead of
next year's legislative session.
Republican Rep. Charlene Fite filed the proposed tax break on Tuesday, the
first day for lawmakers to pre-file bills for the 2017 session. The proposal
would exempt veterans' retirement and survivor benefits from the state income
tax.
State finance officials said a similar tax break proposed last year would cost
the state $13 million a year when fully implemented. Fite's proposal comes
nearly a week after Republican Gov. Asa Hutchinson proposed a $50 million income
tax cut that would take effect in two years.
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