LCO No. 331 1 of 1
General Assembly Proposed Bill No. 5040
January Session, 2021
LCO No. 331
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
REP. BUCKBEE, 67th Dist.
AN ACT CONCERNING CERTAIN ADJUSTMENTS FOR SENIORS TO
PERSONAL INCOME TAX DEDUCTIONS.
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 require that, 1
for seniors, (1) qualifying income thresholds for personal income tax 2
deductions be adjusted for inflation, and (2) income from individual 3
retirement accounts that is currently taxable be exempt from the 4
personal income tax. 5
Statement of Purpose:
To require that, for seniors, (1) qualifying income thresholds for
personal income tax deductions be adjusted for inflation, and (2) income
from individual retirement accounts that is currently taxable be exempt
from the personal income tax.