6. Amend page 20, line 28, after “benefits.” by inserting “ Beginning January 1, 2023, when that person reaches the age of 67, that person is eligible for a deduction of $50,000.00 for a single return and $100,000.00 for a joint return, which deduction is available against all types of income and is not restricted to income from retirement or pension benefits. ”.
7. Amend page 20, line 29, after “the” by inserting “ unrestricted ”.
8. Amend page 20, line 29, after “deduction” by striking out the balance of the page through “return,” on line 1 of page 21 and inserting “ under this subdivision, ”.
9. Amend page 21, line 4, after “the” by inserting “ unrestricted ”.
10. Amend page 21, line 4, after “deduction” by striking out the balance of the line through “return” on line 5 and inserting “ under this subdivision ”.
11. Amend page 21, line 9, after “deduction” by striking out the balance of the line through the second “return” on line 10.
12. Amend page 22, following line 5, by inserting:
“ (11) For the 2024 tax year and each tax year after 2024, the maximum deduction amounts allowed under subsection (9) shall be adjusted by multiplying the amount allowed for the 2023 tax year by a fraction, the numerator of which is the United States Consumer Price Index for the state fiscal year ending in the tax year prior to the tax year for which the adjustment is being made and the denominator of which is the United States Consumer Price Index for the 2021-2022 state fiscal year. The department shall annualize the amounts provided in this subsection as necessary. ” and renumbering the remaining subsection.
The question being on the adoption of the amendments,
Senator Lauwers requested the yeas and nays.
The yeas and nays were ordered, 1/5 of the members present voting therefor.
The amendments were not adopted, a majority of the members serving not voting therefor, as follows: