LCO No. 1663 1 of 1
General Assembly Proposed Bill No. 5857
January Session, 2021
LCO No. 1663
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
REP. KAVROS DEGRAW, 17th 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, 2021. 6
Statement of Purpose:
To phase out the personal income tax on certain individual retirement
account income.