Proposed H.B. No. 5023
Session Year 2022


AN ACT CONCERNING CERTAIN ADJUSTMENTS FOR SENIORS TO PERSONAL INCOME TAX DEDUCTIONS.

To require that, for seniors, (1) qualifying income thresholds for personal income tax deductions be adjusted for inflation, and (2) income from individual retirement accounts be exempt from the personal income tax for taxable years commencing on or after January 1, 2022, rather than the current phase-out schedule.


Other Bills with Similar Topics

  Elderly persons 

  Income tax deductions (State) 

 

  Income tax exemptions (State) 

  Individual retirement accounts (IRAs)