This bill aims to revise state income taxation laws specifically concerning military pensions, retirement income, and survivor benefits. It proposes to exempt a portion of these benefits from income taxation for retired members of the Armed Forces, reserve components, or the National Guard who either become residents of the state or continue to reside in the state after receiving certain retirement benefits. The bill also includes provisions for rulemaking authority to implement these changes.

Additionally, the bill amends Section 15-30-2120 of the Montana Code Annotated (MCA) to incorporate these new exemptions. The legislation outlines effective dates, an applicability date, and a termination date for the proposed changes, ensuring clarity on when the new tax provisions will take effect.

Statutes affected:
SB0104_1.pdf: 15-30-2120
SB0104_2.pdf: 15-30-2120
SB0104_3.pdf: 15-30-2120
SB0104_4.pdf: 15-30-2120
SB0104_5.pdf: 15-30-2120
Amended: 15-30-2120
Introduced: 15-30-2120