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Under current proposal, exemption would sunset in 2031
SANTA FE — Senator Bill Burt (R-Alamogordo) today urged the Legislature to make the tax exemption on military retirement pay permanent in the omnibus tax bill, House Bill 547. During the Senate debate on House Bill 547, Senator Burt introduced an amendment to remove the sunset date on the exemption, which would expire in 2031 under the current proposal. The amendment was defeated when all but one Democrat voted against the measure.
