Establishes a tax exemption for pension income for certain senior citizens in Massachusetts.

This bill amends the Massachusetts General Laws to create a tax exemption for pension income for certain senior citizens. Specifically, it exempts the first $20,000 of taxable pension income for residents over 65 years old who live at or below the area median income. Additionally, it provides a full exemption for those who have paid taxes on pension income for over 20 years. This change aims to provide financial relief to eligible senior citizens.

Establishes a tax exemption for pension income for certain senior citizens in Massachusetts.

This bill amends the Massachusetts General Laws to create a tax exemption for pension income for certain senior citizens. Specifically, it exempts the first $20,000 of taxable pension income for residents over 65 years old who live at or below the area median income. Additionally, it provides a full exemption for those who have paid taxes on pension income for over 20 years. This change aims to provide financial relief to eligible senior citizens.