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CT HB05188

Bill

Official Source

Status

Introduced

2/18/2014

Primary Sponsor

Daniel Fox

Click for details

Origin

House of Representatives

2014 General Assembly

AI Summary

  • Amends Connecticut General Statutes Section 12-701(a)(20)(B)(ix) to expand the income tax deduction for premiums paid on out-of-state municipal bonds
  • Extends the deduction to all taxpayers, removing the current limitation that restricts it only to those who trade bonds as a trade or business
  • Allows taxpayers to deduct amortizable bond premiums on bonds whose interest is subject to Connecticut taxation but exempt from federal taxation
  • Limits the deduction to premiums that are not already deductible for federal income tax purposes
  • Referred to the Committee on Finance, Revenue and Bonding

Legislative Description

An Act Concerning The Deductibility Of Premiums Paid On Out-of-state Bonds.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

2/18/2014

Committee Referrals

Finance, Revenue and Bonding2/18/2014

Full Bill Text

No bill text available