Bill Text: CT HB05195 | 2016 | General Assembly | Introduced
Bill Title: An Act Concerning An Exemption From The Estate Tax For Property Classified As Farmland.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2016-02-11 - Referred to Joint Committee on Finance, Revenue and Bonding [HB05195 Detail]
Download: Connecticut-2016-HB05195-Introduced.html
General Assembly |
Proposed Bill No. 5195 |
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February Session, 2016 |
LCO No. 401 | ||||
*00401* | |||||
Referred to Committee on FINANCE, REVENUE AND BONDING |
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Introduced by: |
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REP. ALBIS, 99th Dist. |
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AN ACT CONCERNING AN EXEMPTION FROM THE ESTATE TAX FOR PROPERTY CLASSIFIED AS FARMLAND.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 217 of the general statutes be amended to provide an exemption from the estate tax in an amount up to the federal estate tax exemption level, which is currently 5.4 million dollars, for farm land classified under the state's 490 program.
Statement of Purpose:
To provide an exemption from the estate tax in an amount up to the federal estate tax exemption level for farm land classified under the state's 490 program.