Connecticut-2013-HB05034-Introduced


General Assembly		*Proposed Bill No. 5034*
*January Session, 2013*		LCO No. 123

Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. LAVIELLE, 143^rd Dist.

AN ACT CONCERNING A PHASE-OUT OF TAXATION ON PENSIONS AND SOCIAL SECURITY INCOME.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That chapter 229 of the general statutes be amended to phase out personal income taxes on pensions and Social Security income and to reduce funding for the Earned Income Tax Credit by an amount equal to the revenue loss resulting from such phase-out.

Statement of Purpose:

To provide revenue-neutral tax relief to senior citizens and make Connecticut more competitive with other states.