[1] NOTE: As provided in LFC policy, this report is intended only for use by the standing finance committees of the legislature. The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.

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F I S C A L I M P A C T R E P O R T

SPONSOR:	Rawson		DATE TYPED:	01/24/02		HB
SHORT TITLE:		Income Tax Exemption for 100 Year-Olds				SB	95
					ANALYST:		Neel

REVENUE

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

($0.1)

Minimal

Recurring

General Fund

(Parenthesis ( ) Indicate Revenue Decreases)

SOURCES OF INFORMATION

LFC files

No Response

Taxation and Revenue Department (TRD)

SUMMARY

Senate Bill 95 amends statute to exempt individuals who are 100 years of age or older from state income tax. SB 95 further requires that individuals that qualify under the provisions of this bill not be dependent on another individual.

FISCAL IMPLICATIONS

Minimal.

SN/ar