LCO No. 683 1 of 1
General Assembly Proposed Bill No. 5284
January Session, 2021
LCO No. 683
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
REP. CARNEY, 23rd Dist.
AN ACT PHASING OUT THE PERSONAL INCOME TAX ON CERTAIN
INDIVIDUAL RETIREMENT ACCOUNT INCOME.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That the general statutes be amended to phase out the personal 1
income tax on income from traditional, simplified employee pension, 2
and savings incentive match plan individual retirement accounts, in the 3
same fashion and over a similar period as the phase-out of personal 4
income tax on pension and annuity income, commencing in the taxable 5
year commencing January 1, 2022. 6
Statement of Purpose:
To phase out the personal income tax on certain individual retirement
account income.