General Assembly Proposed Bill No. 6549
January Session, 2017 LCO No. 867
*00867*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. ALTOBELLO, 82nd Dist.
General Assembly
Proposed Bill No. 6549
January Session, 2017
LCO No. 867
*00867*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. ALTOBELLO, 82nd Dist.
AN ACT EXEMPTING A PORTION OF RETIRED MUNICIPAL POLICE OFFICERS' RETIREMENT PAY FROM THE PERSONAL INCOME TAX.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That section 12-701 of the general statutes be amended to exempt a portion of the retirement pay of retired municipal police officers from the personal income tax as follows: (1) For the taxable year commencing January 1, 2017, ten per cent; (2) for the taxable year commencing January 1, 2018, twenty-five per cent; and (3) for the taxable year commencing January 1, 2019, and each taxable year thereafter, fifty per cent.
Statement of Purpose:
To exempt a portion of the retirement pay of retired municipal police officers from the personal income tax.