March 30, 2015
Advanced Search
Dutrac Credit Union


Iowa lawmakers back military pension bill

Print
Font Size:
Default font size
Larger font size

Posted: Wednesday, January 22, 2014 11:27 am | Updated: 11:29 am, Wed Jan 22, 2014.

DES MOINES, Iowa — A Senate panel is giving preliminary backing to a bill that would exempt military pensions from the state income tax.

A Senate subcommittee approved the legislation during a brief hearing today. It is expected to soon receive committee-level approval and move to the full Senate for a vote.

Sen. Herman Quirmbach, a Democrat from Ames, says he is pleased to support legislation that helps veterans and may bring more military retirees to the state.

The military pension exemption is a top priority for Republican Gov. Terry Branstad, who has made support for veterans a key part of his budget plan this year.

According to the Branstad administration, the pension exemption would cost the state a projected $10 million in lost annual revenue.

© 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More about

More about

More about

  • Discuss