ATLANTA – State Representative Jesse Petrea (R-Savannah), chairman of the House Human Relations & Aging Committee, recently introduced House Bill 1064, legislation that would create a tax exemption for military retirement income. Rep. Petrea is carrying HB 1064 on behalf of Governor Brian Kemp, who recently announced that he would support legislation to provide up to $35,000 in income tax exemptions for military retirees in Georgia.
“I have worked on this measure for the last eight years, so I am honored to carry it for Governor Kemp,” said Rep. Petrea. “I appreciate the governor’s commitment to supporting Georgia’s military retirees, especially as the cost of living has sky-rocketed this last year. Not only is this a priority for our governor, but it is also a priority for the House Republican Caucus. I look forward to working with my colleagues in the General Assembly to help this vital bill cross the finish line this session.”
House Bill 1064 would exempt up to $17,500 in military retirement income from state income taxes for retired service members under 62 years old. If a military retiree continues to work and earns up to $17,500, the retiree would be eligible for an additional exemption up to $17,500 in state income taxes for a total exemption of $35,000. If HB 1064 is passed and signed into law, it would become effective on July 1, 2022, and subsequently applicable to all taxable years beginning on or after January 1, 2022.
For more information on HB 1064, please click here.
Representative Jesse Petrea represents the citizens of District 166, which includes portions of Bryan and Chatham counties. He was elected to the House of Representatives in 2014 and currently serves as Chairman of the Human Relations & Aging Committee and Secretary of the Science and Technology Committee. He also serves on the Appropriations Subcommittee on Health and the Game, Fish & Parks, Health & Human Services and Public Safety & Homeland Security committees.
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