Bill Text: CT SB00047 | 2012 | General Assembly | Introduced

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Bill Title: An Act Concerning The Use Of Budget Surpluses.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2012-02-10 - Referred to Joint Committee on Finance, Revenue and Bonding [SB00047 Detail]

Download: Connecticut-2012-SB00047-Introduced.html

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General Assembly		Proposed Bill No. 47
February Session, 2012		LCO No. 452
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. KELLY, 21st Dist.

AN ACT CONCERNING THE USE OF BUDGET SURPLUSES.

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

That the general statutes be amended to require that one-half of any budget surplus be applied to an increase in the threshold for an exemption from income taxation.

Statement of Purpose:

To utilize half of all state budget surpluses for income tax relief by increasing the amount of income that is exempt from income taxation.