Proposed H.B. No. 5027
Session Year 2022
 


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.

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 Proposed Bill  [doc]
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Co-sponsors for Amendment LCO:

Bill History

 Date Action Taken
 2/9/2022Referred to Joint Committee on Finance, Revenue and Bonding

Co-sponsors of HB-5027

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