Life insurance package for Oklahoma National Guard members approved
Friday, March 4th 2005, 6:19 am
By: News On 6
OKLAHOMA CITY (AP) -- A bill to provide life insurance for members of the Oklahoma National Guard and reduce taxes on their military retirement pay has passed the state Senate.
The bill is part of Governor Henry's legislative package. It provides $250,000 in life insurance for guard members and exempts up to 50 percent of military pensions from the state income tax.
The governor proposed the legislation during his State of the State address at the start of the legislative session. It now goes to the state House.