An Act Exempting The Income Earned By A Child Of An Applicant From The Calculation Of Gross Income In Consideration For Participation In The Rental Assistance Program.
Impact
The bill's passage would mean that families could potentially qualify for rental assistance despite having a child who earns income, thereby increasing eligibility for those who might otherwise be disqualified. This change is particularly important in areas with high living costs where any additional income can significantly impact a family's overall financial situation. The proposed measure highlights an understanding of the unique circumstances affecting families with young adults entering the workforce and provides a buffer against the rising costs of living.
Summary
House Bill 6114 aims to amend Section 8-345 of the general statutes by exempting the income earned by an applicant's child from the calculation of gross income. This exemption would be applicable until the child reaches the age of twenty-six. The primary purpose of this bill is to provide financial relief to families participating in the rental assistance program, which has significant implications for those in low- to moderate-income brackets who may struggle with housing costs. By allowing this exemption, the bill seeks to support the financial stability of families with dependents.
Contention
While supporters of HB 6114 argue that the bill promotes inclusivity within housing programs and addresses the needs of families, there may be concerns regarding its implications for the funding and resources available for rental assistance. Some critics may express fears that such exemptions could lead to increased demand for rental assistance without a corresponding increase in funding, potentially straining state resources and impacting other critical housing programs. Thus, the bill may spotlight broader discussions around the balance between supporting families and managing state assistance program sustainability.
An Act Making Adjustments To The Personal Income And The Earned Income Tax Credit And Concerning The Human Capital Investment Tax Credit, Tax Gap Reporting And The Tax Incidence Report.