General Assembly

  

Proposed Bill No. 415

 

January Session, 2013

  

LCO No. 1347

   

Referred to Committee on FINANCE, REVENUE AND BONDING

 

Introduced by:

  

SEN. BOUCHER, 26th Dist.

  

AN ACT CONCERNING THE PHASE-OUT OF TAXATION OF PENSION 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, over a four-year period, the income tax on all pension income, with the amount of tax due on pension income in each year decreasing by twenty-five per cent, until totally exempt.

Statement of Purpose:

To phase out the state taxation of pension income.