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CT HB05100

Bill

Official Source

Status

Introduced

2/9/2016

Primary Sponsor

John Scott

Click for details

Origin

House of Representatives

2016 General Assembly

AI Summary

  • Amends chapter 229 of the general statutes to create a personal income tax deduction for contributions to catastrophe savings accounts
  • Limits total contributions to twice the taxpayer's insurance deductible, with a maximum cap of $15,000
  • Restricts account funds to payment of insurance deductibles or uninsured costs from hurricanes, rising flood waters, or other catastrophic windstorm events
  • Allows residents to build dedicated savings to prepare for financial impacts of catastrophic storms

Legislative Description

An Act Providing An Income Tax Deduction For Contributions To Catastrophe Savings Accounts.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

2/9/2016

Committee Referrals

Finance, Revenue and Bonding2/9/2016

Full Bill Text

No bill text available