General Assembly Proposed Bill No. 585
January Session, 2015 LCO No. 2173
*02173*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. MARKLEY, 16th Dist.
General Assembly
Proposed Bill No. 585
January Session, 2015
LCO No. 2173
*02173*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. MARKLEY, 16th Dist.
AN ACT EXEMPTING CERTAIN SOCIAL SECURITY AND PENSION BENEFIT 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 all of a taxpayer's Social Security income, and half of a taxpayer's pension benefit income, from taxation under the personal income tax.
Statement of Purpose:
To provide tax relief to senior citizens by establishing a tax exemption under the personal income tax for Social Security income and one-half of pension benefit income.