HCS HB 444, 217, 225, 239, 243, 297, 402 & 172 -- INCOME TAX
DEDUCTION FOR SOCIAL SECURITY BENEFITS (Jetton)

COMMITTEE OF ORIGIN:  Special Committee on Tax Reform

Beginning January 1, 2007, this substitute authorizes an income
tax deduction for Social Security benefits, Social Security
disability benefits, or benefits received from a retirement
system in lieu of Social Security, regardless of income.  The
substitute authorizes a deduction for the capital gains or
taxable interest of $6,000 or less from any individual retirement
plan.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of More than
$285,720,215 in FY 2008, More than $293,529,524 in FY 2009, and
More than $301,433,245 in FY 2010.  No impact on Other State
Funds in FY 2008, FY 2009, and FY 2010.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:19 am