General Assembly Proposed Bill No. 791
January Session, 2015 LCO No. 1354
*01354*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. KELLY, 21st Dist.
General Assembly
Proposed Bill No. 791
January Session, 2015
LCO No. 1354
*01354*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. KELLY, 21st Dist.
AN ACT CONCERNING THE USE OF ONE-HALF OF ANY BUDGET SURPLUS TO BROADEN THE APPLICABILITY OF THE PERSONAL EXEMPTION UNDER THE PERSONAL INCOME TAX.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to require that one-half of any budget surplus be used to increase the income levels for the personal exemption under the personal income tax.
Statement of Purpose:
To provide tax relief to residents by using one-half of any budget surplus to increase the income levels for the personal exemption under the personal income tax.