ATLANTA — The Georgia Senate passed a bill which would eliminate income taxes on military retirement benefits.
While the Senate had passed identical legislation in early March, the bill passed Friday was a version from the Georgia House of Representatives.
With the House version approved by the Senate, it now heads back to its original chamber.
Lt. Gov. Burt Jones came out in support of the bill on Friday, urging members of the House to pass the bill.
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According to the Lt. Governor, state law allows retired military service members younger than 62 to exempt the first $17,500 of their military retirement income from the state’s income taxes.
“I want to thank the Senate for its bi-partisan support of this important measure,” Jones said in a statement. “Eliminating the income tax on military retirement benefits is a common-sense approach to providing tax relief to heroes who have risked their lives to keep our communities, state and nation safe. Allowing these benefits to be earned tax-free will also help make Georgia a leading destination for servicemen and women as they transition from the military into civilian life and bring their talents and experience to workplaces across our state.”
Jones also thanked the Senate for its work on the legislation.
Should it be approved again in the House without modification and then signed off on by Gov. Brian Kemp, House Bill 266 would allow all income paid to military retirees as retirement benefits to be tax-free from Georgia income taxes.
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