State Senate committee approves retiree tax break

OKLAHOMA CITY (AP) -- A bill to increase an income tax break for retirees was approved Tuesday by the Senate Finance Committee.<br><br>Under current law, the first $5,500 of retirement income is exempt

Tuesday, March 30th 2004, 12:00 am

By: News On 6

OKLAHOMA CITY (AP) -- A bill to increase an income tax break for retirees was approved Tuesday by the Senate Finance Committee.

Under current law, the first $5,500 of retirement income is exempt from the state income tax. House Bill 2122 would raise the exemption to $7,500. The measure was proposed by Gov. Brad Henry.

The bill now goes to the Senate floor for consideration.

In other action, the committee passed a bill to allow the sale "animal friendly" license plates.

Under the bill, the specialty license plates would cost $25. Of that amount, $20 would go to the Oklahoma Pet Overpopulation Authority, which plans to use the money to spay and neuter stray animals.

The bill also allows for an income tax check off system to raise money for the authority.