| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | LCO No. 126 1 of 1 | |
| 4 | 4 | ||
| 5 | 5 | General Assembly Proposed Bill No. 426 | |
| 6 | 6 | January Session, 2025 | |
| 7 | 7 | LCO No. 126 | |
| 8 | 8 | ||
| 9 | 9 | ||
| 10 | 10 | Referred to Committee on FINANCE, REVENUE AND | |
| 11 | 11 | BONDING | |
| 12 | 12 | ||
| 13 | 13 | ||
| 14 | 14 | Introduced by: | |
| 15 | 15 | SEN. ANWAR, 3rd Dist. | |
| 16 | 16 | ||
| 17 | 17 | ||
| 18 | 18 | ||
| 19 | 19 | AN ACT INCREASING THE QUALIFYING INCOME THRESHOLDS FOR | |
| 20 | 20 | CERTAIN PERSONAL INCOME TAX DEDUCTIONS. | |
| 21 | 21 | Be it enacted by the Senate and House of Representatives in General | |
| 22 | 22 | Assembly convened: | |
| 23 | 23 | ||
| 24 | 24 | That section 12-701 of the general statutes be amended to increase, 1 | |
| 25 | 25 | commencing with the taxable year commencing January 1, 2025, the 2 | |
| 26 | 26 | qualifying income thresholds for the personal income tax deductions for 3 | |
| 27 | 27 | Social Security benefits, pension and annuity income and distributions 4 | |
| 28 | 28 | from individual retirement accounts, as follows, and to adjust the 5 | |
| 29 | 29 | applicable phase-outs accordingly: (1) For individual filers, to less than 6 | |
| 30 | 30 | one hundred fifty thousand dollars; and (2) for married individuals 7 | |
| 31 | 31 | filing jointly, to less than two hundred fifty thousand dollars. 8 | |
| 32 | 32 | Statement of Purpose: | |
| 33 | 33 | To increase the qualifying income thresholds for the personal income | |
| 34 | 34 | tax deductions for Social Security benefits, pension and annuity income | |
| 35 | 35 | and distributions from individual retirement accounts. |