Delaware Senate Passes Bill to Protect Younger Veterans' Pensions

Delaware Senate Passes Bill to Protect Younger Veterans' Pensions

Those living in Delaware will get more tax relief after the Delaware Senate passes a bill.

State Senator Spiros Mantzavinos (D-Elsmere/Pike Creek) said he wanted to make Delaware more competitive with regional states.

"It provides those who have separated from the military, who are in their late 30s to early 40s, with an incentive to begin their second careers in Delaware. These women and men have skills and experiences that are highly sought after in Delaware, such as leadership, medical care, logistics, and management."

According to the U.S. Department of Veterans Affairs, there were 71,845 veterans, 9,106 of whom were retired veterans.

One thousand five hundred twenty-nine people under 60 got military income in 2018, and the majority got pension income over $12,500.

Mantzavinos says the $1.4 million in lost revenue was worth it.

"Delaware offers many benefits to those who retire here, and I recognize, and I believe we all should, that Delaware could do more to remain competitive by considering the specific needs of our veterans."

Mantzavinos was joined by state Sen. Colin Bonini (R-Dover), who hopes this is just the beginning of a ladder heading for tax-free income.

We'll be able to exempt all military pensions someday, hopefully soon. It's a significant first step.

Hopefully, it sends a message to the younger veterans that Delaware is open for business.

SB188 will now go to the statehouse.