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AI Summary: The bill aims to raise the income threshold for qualifying for an income tax deduction on social security benefits. This change would allow more individuals to benefit from the tax subtraction modification, potentially reducing their tax burden. The main provision involves increasing the income limit for eligibility. If passed, this bill could provide financial relief to a broader range of taxpayers receiving social security income by allowing them to deduct a portion of it from their taxable income.
Latest Action: House Introduced
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Actions (4):
2023-01-19 : House Introduced
2023-01-19 : House Referred to Committee on Taxation
2023-01-25 : House Hearing: Wednesday, January 25, 2023, 3:30 PM Room 346-S
2024-04-30 : House Died in Committee
Democrat Republican