The bill increases the income tax deduction for income from military retirement or survivor’s benefits beginning in 2019.
It exempts Indiana veterans and their spouses from paying income tax on their veteran benefits. The politicians hope that this bill will keep more veterans in Indiana and lure them here from other states.
The exemption will reduce state revenue by about $15 million a year, according to the non-partisan Legislative Services Agency.
Personally, I think this should already have been a thing, nationwide. What do you think?
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