SB662: Income tax, state; subtraction for state police retirement benefits.
Legislative Summary
Income tax subtraction; state police retirement benefits. Establishes an income tax subtraction for up to $10,000 of state police retirement benefits in taxable year 2024 and each year thereafter. The bill defines state police retirement benefits to include retirement income received by a Virginia State Police officer who is at least 55 years of age and benefits paid to the surviving spouse of such officer whose death occurred in the line of duty.
Demographic Impact
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