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Rep. Richard Smith introduces tax exemption bill

State Rep. Richard Smith, R-Columbus, introduced a bill today that would exempt retirement income gained from military service from state income tax.

If enacted, the bill would become effective for all taxable years starting Jan. 1. It would start excluding 40 percent of any such income, and gradually increase that percentage until it reached 100 percent in 2011.

"If there is inadequate time to get the bill passed this year, I will reintroduce next year . . .," Smith said.

The legislation is House Bill 1343.

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