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A BILL IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
Councilmember Charlene Drew Jarvis introduced the following bill, which was referred to the Committee on Finance and Revenue.
To amend Title 47 of the District of Columbia Code to increase the amount of pension income excluded from the computation of income subject to taxation by the District of Columbia.
BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "Increased Pension Exclusion from Income Tax Amendment Act of 1999".
Sec. 2. Title 47 of the District of Columbia Code is amended as follows:
(a) Section 47-1803.2(a)(2)(N)(i) is amended to read as follows:
(b). A new section 47-1803.2(a)(2)(N)(i-1) is added to read as follows:
Sec. 3. Applicability.
The provisions of section 2 shall apply to any tax year beginning after December 31, 1999.
Sec. 4. Fiscal impact statement.
The Council adopts the fiscal impact statement in the committee report as the fiscal impact statement required by section 602(c)(3) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Code § 1-233(c)(3)).
Sec. 5. Effective date.
This act shall take effect following approval by the Mayor (or in the event of veto by the Mayor, action by the Council to override the veto), approval by the Financial Responsibility and Management Assistance Authority as provided in Section 203(a) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995, approved April 17, 1995 (109 Stat. 116; D.C. Code §47.392.3(a)), a 30-day period of Congressional review as provided in section 602(c)(1) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Code § 1-233(c)(1)), and publication in the District of Columbia Register.
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