General Assembly Proposed Bill No. 10 February Session, 2012 LCO No. 58 Referred to Committee on Finance, Revenue and Bonding Introduced by: SEN. FRANTZ, 36th Dist. General Assembly Proposed Bill No. 10 February Session, 2012 LCO No. 58 Referred to Committee on Finance, Revenue and Bonding Introduced by: SEN. FRANTZ, 36th Dist. AN ACT CONCERNING THE PERSONAL INCOME TAX RATE. Be it enacted by the Senate and House of Representatives in General Assembly convened: That chapter 229 of the general statutes be amended to reduce the personal income tax rate to four and one-half per cent. Statement of Purpose: To retain and attract more people and businesses capable of funding the necessary revenue for the state.