SB1007 SFA Prezioso 5-16 #1

Baker 7816

Senators Prezioso, Beach, Facemire, Jeffries, Ojeda, Palumbo, Plymale, Romano, Stollings, Unger and Woelfel moved to amend the amendment on pages forty-seven and forty-eight, by striking out all of section four-g;

On pages forty-eight through fifty-one, by striking out all of section four-h;

On page fifty-two and fifty-three, by striking out all of section twelve-j and inserting in lieu thereof a new section, designated section twelve-j, to read as follows:

§11-21-12j. Decreasing modification reducing federal adjusted gross income for military retirement income and social security benefits after December 31, 2017.

(a) In lieu of the provisions for military retirement income in section twelve of this article, for taxable years beginning on and after January 1, 2018, the entire amount of military retirement income, including retirement income from the regular Armed Forces, Reserves, and National Guard, paid by the United States or this state after December 31, 2017, that is included in federal adjusted gross income for the taxable year shall be allowed as a decreasing modification of federal adjusted gross income when determining West Virginia taxable income subject to the tax imposed by this article.

(b) For taxable years beginning on and after January 1, 2018, the entire amount of social security benefits received pursuant to Title 42 U.S.C., Chapter 7, paid by the United States after December 31, 2017, that is included in federal adjusted gross income for the taxable year shall be allowed as a decreasing modification of federal adjusted gross income when determining West Virginia taxable income subject to the tax imposed by this article.

(c) In the event that any provision of this section is found by a court of competent jurisdiction to violate either the Constitution of the United States or this state, or is held to be extended to persons other than those specified in this section, this section shall become null and void by operation of law.;

That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-13A-3f; that §11-15-2, §11-15-3, §11-15-9, §11-15-9b and §11-15-9h of said code be amended and reenacted; that said code be amended by adding thereto two new sections, designated §11-15-3d and 11-15-3e; that §11-15A-2 and §11-15A-10 of said code be amended and reenacted; that §11-21-8a and §11-21-8e of said code be amended and reenacted; that said code be amended by adding thereto a new section, designated §11-21-12j; that §11-24-23a of said code be amended and reenacted; and that said code be amended by adding thereto a new section, designated §11-24-4c, all to read as follows:.