HB117 Alabama 2023 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2023
Title
Relating to income taxes; to amend Section 40-18-19, Code of Alabama 1975, as last amended by Act 2022-292, Act 2022-294, and Act 2022-297 of the 2022 Regular Session of the Legislature; to increase the exemption for taxable retirement income for individuals who are 65 years of age or older.
Description
Currently, up to $6,000 of taxable retirement income is exempt from income tax for individuals who are 65 years of age or older
This bill would increase the exemption to up to $10,000 of taxable retirement income
Relating to income taxes; to amend Section 40-18-19, Code of Alabama 1975, as last amended by Act 2022-292, Act 2022-294, and Act 2022-297 of the 2022 Regular Session of the Legislature; to increase the exemption for taxable retirement income for individuals who are 65 years of age or older.
Subjects
Taxation and Revenue, income tax exemption for retirement income increased
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 21, 2023 | H | Introduced and Referred to House Ways and Means Education |
| March 21, 2023 | H | Read First Time in House of Origin |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB117 Alabama 2023 Session - Introduced |