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CT SB00007

Bill

Official Source

Status

Introduced

2/3/2010

Primary Sponsor

Daniel Debicella

Click for details

Origin

Senate

2010 General Assembly

AI Summary

  • Amends section 4-30a of the general statutes to allocate 50% of any annual state budget surplus to increase the income exemption amount for state income taxation
  • The new income exemption amount established each year shall carry forward to the following year
  • Deposits the remaining 50% of state budget surplus into the Budget Reserve Fund
  • Provides income tax relief to state taxpayers through automatic exemption increases tied to surplus revenues

Legislative Description

An Act Concerning Use Of Any State Budget Surplus.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

2/3/2010

Committee Referrals

Finance, Revenue and Bonding2/3/2010

Full Bill Text

No bill text available