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CT HB05095

Bill

Official Source

Status

Introduced

2/15/2022

Primary Sponsor

Laura Devlin

Click for details

Origin

House of Representatives

2022 General Assembly

AI Summary

  • Amends Chapter 229 of Connecticut general statutes to create income threshold phase-outs for personal income tax deductions
  • Applies to deductions for pension and annuity income, Social Security benefits, and certain IRA distributions
  • Eliminates the "cliff effect" where taxpayers lose entire deductions upon exceeding income thresholds
  • Phase-outs would gradually reduce deductions as income increases rather than cutting them off entirely
  • Introduced by Rep. Devlin (134th District) and referred to Finance, Revenue and Bonding Committee

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