Gov. Holcomb signs into law Cherry’s bill increasing tax exemptions for veterans

Posted by: Lydia Kirschner  | Wednesday, May 8, 2019 9:20 am

STATEHOUSE (May 8, 2019) — Gov. Eric Holcomb recently signed into law State Rep. Bob Cherry’s (R-Greenfield) legislation providing tax relief to many Hoosier veterans.

The new law will phase in a full income tax exemption for military retirement pensions over four years, decreasing financial burdens on thousands of veterans.

“This new law helps incentivize veterans to stay in Indiana,” said Cherry, vice chair of the House Committee on Ways and Means. “As our state’s economy continues to grow, there are more jobs to fill, and veterans bring in-demand skills to the table with their work ethic, life experiences, and ability to perform under pressure.”

Cherry said nearly 30,000 Hoosier veterans and surviving spouses will be aided once all military retirement and survivor benefits are exempted from Indiana’s state income tax after 2023. With the new law, Indiana joins 23 states that do not tax military retirement pay.

Visit iga.in.gov to learn more.

-30-

 State Rep. Bob Cherry (R-Greenfield) represents House District 53,

which includes portions of Hancock and Madison counties.

Click here to download a high-resolution photo.