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State Representative Gene Pelowski Jr.
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-8637
For more information contact: Chris Shields 651-296-8873
Press/News Releases
PELOWSKI PRAISES PASSAGE OF NEW TAX BENEFIT FOR VETERANS
ST. PAUL - State Representative Gene Pelowski of Winona is praising passage of a new state tax benefit for members of the active military, reserve, National Guard, and veterans. The Heroes Earned Retirement Opportunities Act, part of a larger tax conformity bill, allows tax-exempt combat pay to be used in making IRA contributions.
"If we didn't pass this today, military members in combat zones with little earned income other than their combat pay, would have to track IRA earnings separately for their state and federal taxes," Pelowski said. "With everything our brave men and women in uniform have to go through, removing some financial stress is the least we can do."
The larger legislation also includes tax benefits for college students, their parents, and K-12 educators. Low- and middle-income taxpayers will be able to deduct up to $4,000 of higher education tuition and related expenses. The bill also extends the allowance of the $250 above-the-line deduction for teachers of the amount paid for books and supplies for their classrooms.
The bill was the first to pass the Minnesota House since the Legislature convened on January 3rd. Pelowski said it was positive sign for the rest of the session.
"I'm pleased we passed legislation that helps so many hard-working and brave Minnesotans, so early in session and with overwhelming bipartisan support," Pelowski added. "This bodes well for the work we're going to be doing in the coming months."
The Senate is expected to pass the bill soon and the Governor has pledged to sign it into law when it comes across his desk.
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News Items
- REP. GENE PELOWSKI: MINNESOTA STATUTE 12A IMPROVES STATE DISASTER RECOVERY PROCESS AND DISASTER RELIEF PACKAGE - (Posted: 2012-08-24 00:00:00)
- REP. GENE PELOWSKI AND SEN. JEREMY MILLER SUPPORT TWO-BRIDGE PROPOSAL - (Posted: 2012-08-23 00:00:00)
- REP. GENE PELOWSKI: STATE DISASTER RECOVERY PACKAGE SHOULD FOLLOW PROCESS OUTLINED IN 12A AND INCLUDE PUBLIC INPUT - (Posted: 2012-08-16 00:00:00)
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