AN ACT CONCERNING THE INDEXING OF PERSONAL INCOME TAX THRESHOLDS AND PERSONAL EXEMPTION AMOUNTS, THE ESTABLISHMENT OF A CHILD TAX CREDIT AND THE DEDUCTION AND WITHHOLDING OF PERSONAL INCOME TAX FROM CERTAIN PAYMENTS AND DISTRIBUTIONS.
To (1) require personal income tax thresholds and personal exemption amounts to be indexed for inflation, (2) establish a child tax credit against the personal income tax, and (3) specify the rate an individual may request to be withheld from certain payments and distributions and redefine "lump sum payment" for purposes of such withholding.
Introduced by:
Finance, Revenue and Bonding Committee
