| Committee: Ways and Means Education | Sponsor: Greer |
| Analyst: Bryan Young | Date: 02/14/2022 |
FISCAL NOTE
House Bill 162 as introduced would exempt certain distributions from defined contribution deferred compensation plans received by individuals who are 65 years of age and older from state income tax. According to the Department of Revenue, this bill would reduce income tax receipts to the Education Trust Fund by the following estimated amounts in the following tax years:
| Tax Year | Estimated Loss to ETF |
| 2023 | $32 million |
| 2024 | $50 million |
| 2025 | $63 million |
| 2026 and thereafter | $74 million |
| Danny Garrett, Chair Ways and Means Education |