Minnesota Legislature
HF 3934
1st Engrossment - 90th Legislature (2017 - 2018) Posted on 03/21/2018 12:33pm
Current Version - 1st Engrossment
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A bill for an act
relating to taxation; individual income; expanding the subtraction for military
retirement pay; amending Minnesota Statutes 2017 Supplement, section 290.0132,
subdivision 21.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2017 Supplement, section 290.0132, subdivision 21, is
amended to read:
Subd. 21.
Military service pension; retirement pay.
new text begin (a)new text end To the extent included in
federal taxable income, compensation received from a pension or other retirement pay from
the federal government for service in the militarydeleted text begin , asdeleted text end new text begin is a subtraction. Only the following
amounts may be subtracted under this subdivision:
new text end
new text begin (1) compensation new text end computed under United States Code, title 10, sections 1401 to 1414,
1447 to 1455, and 12733deleted text begin , is a subtraction.deleted text end new text begin ;
new text end
new text begin
(2) one-half the amount of a federal employee retirement system pension under United
States Code, title 5, chapter 84, if the annuity reflects military service credited under section
8411; and
new text end
new text begin
(3) one-half the amount of a civil service retirement system pension under United States
Code, title 5, chapter 83, subchapter III, if the annuity reflects military service credited
under section 8332.
new text end
new text begin (b) new text end The subtraction is limited to individuals who do not claim the credit under section
290.0677.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective retroactively for taxable years beginning
after December 31, 2015.
new text end