Provide income tax deduction for retired firefighters and law enforcement officers for annual retirement benefits.
LB930 amends Nebraska tax law to allow a deduction for retired firefighters and law enforcement officers for annual retirement benefits. Specifically, eligible retirees can reduce their federal adjusted gross income by the amount of their annual retirement benefits, up to a maximum of $100,000 per year. To qualify, retirees must have been employed full-time for at least 20 years and be at least 60 years old. The bill repeals the original section 77-2716 and replaces it with these new provisions.
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