Bill
HB 25-1139
Establishes a state income tax credit for eligible veterans to reduce their tax burden (specific amounts and rules not defined).
HB 25-1139 — Income Tax Credit for Eligible Veterans
Overview
- Purpose: The bill proposes an income tax credit for eligible veterans. The intended aim is to provide tax relief to veterans, recognizing military service and potentially supporting veteran reintegration and financial stability.
- Sponsor: Rebecca Keltie (primary).
- Status: Postpone Indefinitely in the House Committee on Finance as of February 24, 2025. Introduced January 29, 2025 and assigned to Finance on January 29, 2025.
What the bill would do (as inferred from the title)
- The core feature would be to establish an income tax credit available to individuals who meet the bill’s defined “eligible veteran” criteria.
- Typical elements (not specified in the provided document) might include: a defined credit amount (per veteran or per filing unit), whether the credit is refundable or nonrefundable, eligibility criteria (e.g., length or type of military service, residency, income limits), interaction with other state credits, and any carryforward provisions if the credit exceeds tax liability. The exact provisions are not included in the available content.
Key provisions and changes (documented content limitations)
- Specific eligibility criteria, credit amount, refundability, caps, and administrative details are not provided in the summary you shared.
- Administrative responsibility would likely involve the state Department of Revenue for verification and processing, and aligning with any existing veteran-support programs.
Who would be affected
- Eligible veterans who meet the bill’s defined criteria and file state income taxes.
- Taxpayers seeking the credit through their state tax return.
- State revenue and tax administration agencies tasked with implementing and auditing the credit.
Procedural and timeline aspects
- Introduced: January 29, 2025.
- Assigned to: House Committee on Finance (January 29, 2025).
- Action: Postpone Indefinitely in the House Finance Committee on February 24, 2025. This motion typically removes the bill from further consideration for the current legislative session unless revived.
- Next steps (if pursued in a future session): The bill would need to be reintroduced or revived, pass out of committee, and gain floor approval to become law.
Notes for readers
- Details such as the exact eligibility rules, credit amount, whether the credit is refundable, and any sunset provisions are not included in the provided document content. For a precise understanding, review the bill text and fiscal impact statements if they become available.
Compiled from official sources — confirm details with the bill’s official record.
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