After at least eight tries in the Legislature, California may finally join every other state in providing at least some tax exemptions for military retirement income, which supporters argue will help veterans stay in the state and contribute to a skilled workforce.
Assemblymember James Ramos has introduced, for the third time, a bill that would allow veterans to exempt up to $20,000 of their federal pensions if they make under $125,000 a year. He narrowed his bill from last year that sought to exempt a veteran’s full retirement income. Sen. Kelly Seyarto, a Republican from Murrieta, introduced a similar bill in the Senate.
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