s_fin_2016a_2016-02-16t14:02:20z3 Hearing Summary
Date: 02/16/2016
Final
BILL SUMMARY for SB16-086
SENATE COMMITTEE ON FINANCE
| Votes: View--> | Action Taken: |
| Adopt Amendment L.001 (Attachment K). The motion f Refer Senate Bill 16-086 to the Committee on Appro |
FAIL PASS |
04:38 PM -- SB16-086
Senator Neville, prime sponsor, presented Senate Bill 16-086. Under current law, qualifying taxpayers ages 55 to 64 may deduct up to $20,000 in pension or annuity income from their taxable income each year and qualifying taxpayers ages 65 and older may deduct up to $24,000 each year. This bill eliminates these limitations, allowing taxpayers to deduct the entire amount of their pension and annuity income from state taxable income beginning in tax year 2017. Senator Neville distributed a table prepared by the University of Florida Bureau of Economic and Business Research about revenues and expenditures to state and local governments from retirees and non-retirees in Florida in 2010 (Attachment J).
16SenateFin0216AttachJ.pdf
| BILL: | SB16-086 | |
| TIME: | 04:47:11 PM | |
| MOVED: | Kerr | |
| MOTION: | Adopt Amendment L.001 (Attachment K). The motion failed on a vote of 2-3.16SenateFin0216AttachK.pdf |
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| SECONDED: | ||
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VOTE
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Holbert
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No
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Johnston
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Yes
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Kerr
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Yes
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Hill
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No
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Neville T.
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No
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YES: 2 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: FAIL
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| BILL: | SB16-086 | |
| TIME: | 04:52:17 PM | |
| MOVED: | Neville T. | |
| MOTION: | Refer Senate Bill 16-086 to the Committee on Appropriations. The motion passed on a vote of 3-2. | |
| SECONDED: | ||
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VOTE
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Holbert
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Yes
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Johnston
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No
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Kerr
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No
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Hill
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Yes
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Neville T.
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Yes
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Final YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS
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04:53 PM
The committee adjourned.