Connecticut Seal

General Assembly

 

Proposed Bill No. 5019

 

February Session, 2016

 

LCO No. 173

 

*00173*

Referred to Committee on FINANCE, REVENUE AND BONDING

 

Introduced by:

 

REP. BELSITO, 53rd Dist.

 

AN ACT EXEMPTING CERTAIN PENSION INCOME FROM THE PERSONAL INCOME TAX.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That chapter 229 of the general statutes be amended to exempt the first fifty thousand dollars of pension income from the personal income tax.

Statement of Purpose:

To exempt certain pension income from the personal income tax in order to stop the loss of retired individuals from Connecticut to states that do not tax pension income.