STATEHOUSE (Jan. 30, 2019) – The Indiana House of Representatives voted in support of State Rep. Bob Cherry’s (R-Greenfield) legislation that would provide tax relief to many of Indiana’s veterans.
The proposed legislation would phase in an income tax exemption for military retirement pensions and increase the assessed eligibility cap for the disabled veteran’s property tax exemptions, decreasing financial burdens on thousands of veterans.
“Currently, 23 states do not tax military retirement pay,” Cherry said. “This legislation could help incentivize veterans to stay in our state, as well as attract out-of-state veterans, putting their valuable skills to work and helping to fill open positions.”
Over 1 million job openings are expected by 2025, according to the Department of Workforce Development. Cherry said veterans’ work ethic, life experiences, and ability to perform under pressure are among the many skills which make them in-demand for Indiana’s current and future jobs.
According to Cherry, vice chair of the House Committee on Ways and Means, nearly 30,000 Hoosier veterans and surviving spouses would benefit once all military retirement and survivor benefits are exempted from Indiana’s state income tax after 2021.
House Bill 1010 now moves to the Senate for consideration. To learn more, visit iga.in.gov.
State Rep. Bob Cherry (R-Greenfield) represents House District 53,
which includes portions of Hancock and Madison counties.
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