Charlene
Drew Jarvis
A BILL IN THE COUNCIL OF
THE DISTRICT OF COLUMBIA
Councilmember Charlene Drew Jarvis introduced
the following bill, which was referred to the Committee on Finance and Revenue.
To amend Title 47 of the District of Columbia
Code to increase the amount of pension income excluded from the computation of income
subject to taxation by the District of Columbia.
BE IT ENACTED BY THE COUNCIL OF THE DISTRICT
OF COLUMBIA, That this act may be cited as the "Increased Pension Exclusion from
Income Tax Amendment Act of 1999".
Sec. 2. Title 47 of the District of Columbia
Code is amended as follows:
(a) Section 47-1803.2(a)(2)(N)(i) is amended
to read as follows:
"(i) The exclusion shall not exceed the
lesser of $6000 or the actual amount of the pension or military retired pay, or annuity
received during the taxable years for persons who who are 62 to 64 years of age by the end
of the taxable year; and
(b). A new section 47-1803.2(a)(2)(N)(i-1) is
added to read as follows:
"(i-I) The exclusion shall not exceed the
lesser of $12000 or the actual amount of the pension or military retired pay, or annuity
received during the taxable years for persons who who are 65 years of age or older by the
end of the taxable year;
Sec. 3. Applicability.
The provisions of section 2 shall apply to any
tax year beginning after December 31, 1999.
Sec. 4. Fiscal impact statement.
The Council adopts the fiscal impact statement
in the committee report as the fiscal impact statement required by section 602(c)(3) of
the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C.
Code § 1-233(c)(3)).
Sec. 5. Effective date.
This act shall take effect following approval
by the Mayor (or in the event of veto by the Mayor, action by the Council to override the
veto), approval by the Financial Responsibility and Management Assistance Authority as
provided in Section 203(a) of the District of Columbia Financial Responsibility and
Management Assistance Act of 1995, approved April 17, 1995 (109 Stat. 116; D.C. Code
§47.392.3(a)), a 30-day period of Congressional review as provided in section 602(c)(1)
of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C.
Code § 1-233(c)(1)), and publication in the District of Columbia Register.