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 focus of the bill is to exempt retirement income received by retired West Virginia campus police officers from personal income tax, effective after July 1, 2025. This exemption includes any survivorship annuities derived from the retirement system, provided that such income is included in the federal adjusted gross income for the taxable year.

In addition to the new exemption for campus police officers, the bill also makes a modification to the existing language regarding retirement benefits. It changes the wording to clarify that the limitation on the modification for retirement benefits may not exceed $2,000 per person receiving retirement benefits, rather than shall not exceed. This adjustment aims to provide clearer guidance on the tax implications for individuals receiving retirement income. Overall, the bill seeks to enhance the financial benefits for retired campus police officers in West Virginia by alleviating their tax burden on retirement income.

Statutes affected:
Introduced Version: 11-21-12