Senate Bill No. 135

(By Senators Oliverio and Minard)

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[Introduced January 13, 2010; referred to the Committee on Finance.]

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A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-97, relating to exempting the retirement benefits of certain annuitants under the State Teachers Retirement System from state income tax.

Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-21-97, to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
PART I. GENERAL.

§11-21-97. Exemption for specified annuitants of State Teachers Retirement System.
Notwithstanding any provision of this code to the contrary, any member of the State Teachers Retirement System who elected on or before March 6, 1972, to participate to the full extent of his or her salary in the State Teachers Retirement System is exempt from the payment of state income tax to the extent of the State Teachers Retirement benefits received.


NOTE: The purpose of this bill is to exempt the retirement benefits of certain annuitants under the State Teachers Retirement System from state income tax.

This section is new; therefore, strike-throughs and underscoring have been omitted.