...in Missouri. For the Auld Soldier, it's too bad this isn't retroactive to 1975!
H.t, Bloodspite
FOR IMMEDIATE RELEASE
Contact: Tracy Brantner
Whiteman Area Leadership Council
660-747-0244
Local Legislators Support Military Retirees: Senator Pearce and Rep. Sater Co-Sponsor
Jefferson City , Mo. , (May 11, 2009) – A bill that will phase out state income tax for military retirement income has passed the Missouri House and Senate and is heading to Governor Jay Nixon for his signature.
House Bill 82, co-sponsored by Representative David Sater (R-Cassville) and handled by Senator David Pearce (R-Warrensburg) had overwhelming support with a unanimous vote in the Senate with only 4 no votes in the House. If signed into law by Governor Nixon, beginning in January, 2010 15% of military retirement income will be exempt from state income tax. The exemption percentage will increase by 15% each year until the entire amount is exempt in 2016.
It is hoped that the new law will encourage military retirees to live in Missouri after completing their service to the nation. Representative Sater, whose district includes many military retirees commented, “The military retirees in my district and throughout Missouri are an important part of our communities. This bill is a great way to encourage them to keep living here.”
Prior to becoming a Senator in 2009, Pearce championed a law in the Missouri House that exempted military retirement income for those 62 and older. While this was an important step, the new law will provide exemption regardless of retirement age. “This legislation puts Missouri on equal footing with other states and encourages military retirees to live in our state. It’s also a great way to honor their service to our country,” stated Pearce.
The Whiteman Area Leadership Council (WALC), founded in 2004 to address concerns from the Base Realignment and Closure process, is very supportive of this legislative effort in Missouri . WALC Chairman Weldon Brady stated, “We are proud of our legislators across the state for their overwhelming support of Missouri ’s Military and their families. We must continuously look for ways to improve our state as a place where the military wants to do business and their people want to live.”
H.t, Bloodspite
