This bill proposes an amendment to the Code of West Virginia, specifically targeting the personal income tax regulations outlined in section 11-21-12. The primary objective is to exempt retirement income received by retired West Virginia campus police officers from personal income tax, effective after July 1, 2025. This exemption will also apply to any survivorship annuities derived from such retirement systems, provided that the income is included in the individual's federal adjusted gross income for the taxable year.

To implement this change, the bill introduces new legal language that specifies the retirement income of retired campus police officers as a modification reducing federal adjusted gross income. This addition is marked as item (7) in the modifications reducing federal adjusted gross income section, while the previous item (7) is renumbered to (8). The bill aims to provide financial relief to retired campus police officers by ensuring that their retirement benefits are not subject to state income tax, thereby enhancing their financial security in retirement.

Statutes affected:
Introduced Version: 11-21-12