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CT HB05093

Bill

Official Source

Status

Introduced

2/15/2022

Primary Sponsor

Anne Dauphinais

Click for details

Origin

House of Representatives

2022 General Assembly

AI Summary

  • Amends Chapter 229 of Connecticut general statutes to modify personal income tax deduction rules for retirement income

  • Establishes income threshold phase-outs for deductions on pension and annuity income

  • Creates phase-out thresholds for Social Security benefits tax deductions

  • Adds phase-out provisions for certain individual retirement account (IRA) distribution deductions

  • Eliminates the "cliff effect" where taxpayers currently lose entire deductions upon exceeding specific income limits

Legislative Description

An Act Concerning Income Thresholds For Certain Personal Income Tax Deductions And The Cliff Effect.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

2/15/2022

Committee Referrals

Finance, Revenue and Bonding2/15/2022

Full Bill Text

No bill text available