General Assembly Proposed Bill No. 5344
January Session, 2015 LCO No. 343
*00343*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. BELSITO, 53rd Dist.
General Assembly
Proposed Bill No. 5344
January Session, 2015
LCO No. 343
*00343*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. BELSITO, 53rd Dist.
AN ACT PHASING OUT THE PERSONAL INCOME TAX ON PENSION BENEFIT INCOME.
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 pension benefit income from the personal income tax, and that such exemption be phased in over a period of ten years at a rate of ten per cent of such pension benefit income each year.
Statement of Purpose:
To phase out the personal income tax on pension benefit income.