ASSEMBLY, No. 229

STATE OF NEW JERSEY

PRE-FILED FOR INTRODUCTION IN THE 1996 SESSION

By Assemblymen GARCIA, COTTRELL and Dalton

An Act excluding certain income of retired members of the Armed Forces of the United States from gross income subject to the gross income tax and supplementing Title 54A of the New Jersey Statutes.

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. Gross income shall not include military pension payments paid to individuals by the United States with respect to service in the Armed Forces of the United States.

    2. This act shall take effect immediately and apply to taxable years commencing on and after January 1, 1996.

Excludes United States military pensions from the gross income tax.