General Assembly Proposed Bill No. 415
January Session, 2017 LCO No. 3152
*03152*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. FASANO, 34th Dist. SEN. WITKOS, 8th Dist.
General Assembly
Proposed Bill No. 415
January Session, 2017
LCO No. 3152
*03152*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. FASANO, 34th Dist.
SEN. WITKOS, 8th Dist.
AN ACT INCREASING THE PROPERTY TAX CREDIT UNDER THE PERSONAL INCOME TAX FOR A PRIMARY RESIDENCE OR MOTOR VEHICLE.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That section 12-704c of the general statutes be amended to increase the maximum allowable credit against the personal income tax for a person's primary residence or motor vehicle to three hundred fifty dollars for the taxable year commencing January 1, 2018, and to five hundred dollars for taxable years commencing on or after January 1, 2019.
Statement of Purpose:
To provide property tax relief by increasing the maximum allowable credit against the personal income tax for a person's primary residence or motor vehicle.