Bill
Bill > HB05973
CT HB05973
CT HB05973An Act Concerning The Personal Income Tax Deduction For Income Received From The State Teachers' Retirement System.
summary
Introduced
01/22/2025
01/22/2025
In Committee
01/22/2025
01/22/2025
Crossed Over
Passed
Dead
06/04/2025
06/04/2025
Introduced Session
2025 General Assembly
Bill Summary
To adjust the personal income tax deduction for the income received from the state teachers' retirement system to allow taxpayers to deduct one hundred per cent of such income, regardless of the taxpayer's income level.
AI Summary
This bill proposes to modify the personal income tax deduction for income received from the State Teachers' Retirement System (STRS), specifically allowing all taxpayers to deduct 100% of their STRS retirement income regardless of their overall income level. Currently, there may be limitations or partial deductions based on a taxpayer's income, but this legislation would remove those restrictions and provide a full tax deduction for all retired teachers. By enabling a complete tax exemption for STRS income, the bill aims to provide financial relief and potentially improve the economic situation for retired teachers by reducing their tax burden. The change would be implemented by amending section 12-701 of the general statutes, which governs personal income tax deductions in the state.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding (on 01/22/2025)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05973&which_year=2025 |
| BillText | https://www.cga.ct.gov/2025/TOB/H/PDF/2025HB-05973-R00-HB.PDF |
Loading...