HB 1532 - AS INTRODUCED
2000 SESSION
09/10
HOUSE BILL 1532
AN ACT excluding military pension payments and military survivor's benefit payments for certain persons from gross income under any income tax which may be enacted.
SPONSORS: Rep. Rosen, Belk 7; Rep. Griffin, Rock 27; Rep. R. Nowe, Rock 3; Rep. N. Wall, Hills 22
This bill excludes military pension payments and military survivor's benefit payments for certain persons from gross income under any income tax which may be enacted.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
00-2337
09/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand
AN ACT excluding military pension payments and military survivor's benefit payments for certain persons from gross income under any income tax which may be enacted.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Statement of Purpose. The general court and the state of New Hampshire recognize the desirability of attracting and retaining retired military personnel as residents of the state. These individuals bring substantial and reliable federal income with them; are generally mature and responsible; pose less than average potential demands on the state and its communities; and generally have highly developed technical and managerial skills. The general court also recognizes that every other state that has an income tax makes a tax exemption in some form for military retirement pay.
2 New Chapter; State Income Tax Exemptions. Amend RSA by inserting after chapter 76 the following new chapter:
CHAPTER 76-A
76-A:1 Military Retired Pay.
I. Gross income shall not include military retired pay, military disability pay, or retainer pay paid by the Armed Forces of the United States or the Veterans Administration with respect to service in the Armed Forces of the United States. Gross income of the survivors of individuals who received military retired pay, military disability pay, or retainer pay shall not include:
(a) Dependency and Indemnification Compensation, paid by the Veterans Administration; or
(b) Benefits paid by the Survivors Benefit Plan and the Retired Serviceman's Family Protection Plan, under both of which plans the service member paid premiums.
II. Notwithstanding any law to the contrary, pension payments otherwise excludable as income pursuant to this section shall be considered income for the purpose of determining income eligibility for any state benefit or program if the payments were considered income for such purposes prior to the effective date of this section.
3 Effective Date. This act shall take effect at 12:01 am. on the effective date of any act enacting an income tax in New Hampshire.