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DIGEST OF INTRODUCED BILL
Tax deduction for federal retirement benefits. Provides an adjusted gross income tax deduction for part of a federal government pension (including a military pension) received by an individual or an individual's surviving spouse, in an amount that does not exceed the difference between: (1) the maximum benefits payable under Social Security that could have been excluded from the individual's federal gross income for the year; and (2) the Social Security benefits actually received by the individual during the year. Provides that a taxpayer may not claim both this deduction and the existing military service deduction or federal civil service deduction.