Bill
HB 5413
Overview: HB 5413 - AN ACT ELIMINATING THE QUALIFYING INCOME THRESHOLDS FOR THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS.Status: REF. TO JOINT COMM. ON Finance,
Overview: HB 5413 - AN ACT ELIMINATING THE QUALIFYING INCOME THRESHOLDS FOR THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS.
Status: REF. TO JOINT COMM. ON Finance, Revenue and Bonding
Introduced: March 14, 2025
Subject: Income tax deductions (State), social security
Purpose and Intent: The bill aims to eliminate the income thresholds that currently limit the eligibility for state personal income tax deductions on Social Security benefits.
Key Provisions:
- Removes the existing $75,000 (single filer) and $100,000 (joint filer) income limits for the state personal income tax deduction on Social Security benefits
- Allows all Social Security recipients to claim the full deduction, regardless of their total income level
Affected Parties and Impacts:
- Retirees and older adults receiving Social Security benefits, who would see a reduction in their state personal income tax liability
- State government, which would experience a decrease in personal income tax revenue due to the expanded deduction
Procedural and Timeline Considerations:
The bill has been referred to the Joint Committee on Finance, Revenue and Bonding for further consideration. If passed, the changes to the Social Security income tax deduction would likely take effect in the next tax year.
Compiled from official sources — confirm details with the bill’s official record.
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