Personal Income Tax Law: exclusions: law enforcement retirement.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Revenue and Taxation
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill creates a tax exclusion for qualified payments received by taxpayers who are former law enforcement officers or the beneficiaries of survivor annuity plans. Specifically, it excludes payments from pension plans based on service as a peace officer and annuity payments for surviving spouses or dependents of deceased peace officers, as long as the payments are received between January 1, 2025, and December 31, 2029. The bill also requires the Legislative Analyst’s Office to assess the effectiveness of this exclusion and report its findings.
Key provisions
- Excludes qualified payments from pension plans for former peace officers from gross income.
- Excludes annuity payments for surviving spouses or dependents of deceased peace officers from gross income.
- The exclusion applies to taxable years beginning on or after January 1, 2025, and before January 1, 2030.
- Defines ‘law enforcement agency,’ ‘peace officer,’ and ‘qualified payments’ for clarity.
- Requires the Legislative Analyst’s Office to conduct an evaluation of the exclusion’s effectiveness by December 1, 2030.
- Establishes data collection requirements for the evaluation report.
- Specifies the data to be included in the evaluation report.
- Provides that no reimbursement is required for local agencies or school districts due to the creation of a new crime.
Who is affected
- Former law enforcement officers
Bill text
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Sponsors
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1 on record
Primary sponsor
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