Veterans income tax break bill advanced
The Legislature’s Revenue Committee on Thursday sent to the floor a proposal to exempt 50 percent of military retirement benefits from the state income tax, a change that would reduce state revenue by an estimated $12 million in fiscal 2020-2021.
The bill (LB153) was introduced by Sen. Tom Brewer of Gordon at the request of Gov. Pete Ricketts.
The legislation would affect more than 13,000 military retirees in Nebraska.
“We want to make Nebraska the most veteran-friendly state in the country and encourage our heroes to stay in our state and move here,” the governor said in announcing his support for the proposal earlier this year.