CT HB05851

Amends Connecticut General Statutes Chapter 229 to create a dedicated revenue source from personal income taxes on unearned income.

Requires the Department of Revenue Services to calculate a baseline amount of personal income tax revenue paid on unearned income and analyze this amount beginning January 1, 2014.

Segregates any personal income tax paid on unearned income exceeding the calculated base amount from the General Fund.

Directs segregated revenue to be used for: increasing the Budget Reserve Fund, paying excess debt service beyond current obligations, or providing pension payments exceeding annual required contributions.

Establishes that in years following 2014, the segregated amount shall be based on personal income tax paid on unearned income that exceeds the previous year's collection amount.