State Senator Kelly Seyarto introduced bill to benefit Veterans' Families.
SACRAMENTO, CA – Senator Kelly Seyarto (R-Murrieta) is proud to introduce his Veteran bill package for the 2024 legislative year, offering common sense solutions to assist California’s Veterans.
SB 911 will exempt taxes from the first $20,000 of Survivor Benefits Payments (SBP) received by widowed spouses and children of deceased Veterans.
Much like a life insurance policy, this is an opt-in benefit available to U.S. Veterans to pay into during their military career, guaranteeing up to 50% of the service member’s retirement income to be paid to the beneficiary after the Veteran dies.
California is one of only two states in the country that fully taxes these benefits. This bill will protect lower-income families who have lost their primary income source and relieve the children and spouses of our great men and women in uniform from an undue tax burden.
Photo: From Wikimedia Commons