A00259Introduced in the Assembly
Increases the tax exemption for pensions and annuities for persons age fifty-nine and one-half or greater from $20,000 to $25,000 in 2027, $30,000 in 2028, $35,000 in 2029 and $40,000 for each subsequent year.
Introduced by William Magnarelli, District 129
What does this bill do?
Plain-English breakdown
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Official description
Increases the tax exemption for pensions and annuities for persons age fifty-nine and one-half or greater from $20,000 to $25,000 in 2027, $30,000 in 2028, $35,000 in 2029 and $40,000 for each subsequent year.
Where it stands
referred to ways and means
January 7, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
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Bill history
referred to ways and means
amend and recommit to ways and means
print number 259a
referred to ways and means
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