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General Assembly Proposed Bill No. 100
January Session, 2025
LCO No. 221
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
SEN. CICARELLA, 34th Dist.
AN ACT ESTABLISHING A FIRST -TIME HOME BUYERS TAX CREDIT
AGAINST THE PERSONAL INCOME TAX.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That chapter 229 of the general statutes be amended to establish a 1
first-time home buyers tax credit against the personal income tax, in the 2
amount of three and one-half per cent of the purchase price of a first 3
home or ten thousand dollars, whichever is less, for tax filers from an 4
asset limited, income constrained, employed household, as determined 5
in the most recent annual report by the United Way of Connecticut, 6
provided such tax filers (1) have a federal adjusted gross income of less 7
than one hundred thousand dollars for single filers or two hundred 8
thousand dollars for married individuals filing jointly, and (2) have, 9
during the applicable taxable year, earned a salary, wages, tips or other 10
taxable employee compensation and been employed full-time for at 11
least nine months. 12 Proposed Bill No. 100
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Statement of Purpose:
To establish a first-time home buyers tax credit against the personal
income tax for certain tax filers from an asset limited, income
constrained, employed household.