OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
HB-5281
AN ACT ALLOWING A PERSONAL INCOME TAX DEDUCTION
FOR STIPENDS PAID TO VOLUNTEER FIREFIGHTING OR
EMERGENCY MEDICAL SERVICES PERSONNEL.
Primary Analyst: CW 3/26/24
Contributing Analyst(s):
Reviewer: MM
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 25 $ FY 26 $
Revenue Serv., Dept. GF - Revenue
Loss
None 250,000
Note: GF=General Fund
Municipal Impact: None
Explanation
The bill, which establishes a state personal income tax deduction of
up to $2,000 for certain payments volunteer firefighters and emergency
medical services personnel receive for their service, results in a General
Fund revenue loss of $250,000 beginning in FY 26.
The Out Years
The annualized ongoing fiscal impact identified above would
continue into the future.
Sources: Joint Committee on Taxation Estimated Budget Effects of the Revenue Provisions
Contained in The House Amendment to the Senate Amendment to H.R. 1865,
The Further Consolidated Appropriations Act, 2020