General Assembly Proposed Bill No. 25, introduced by Senator Kelly of the 21st District, aims to amend chapter 229 of the general statutes to provide a property tax credit against the personal income tax for certain senior citizens. The bill proposes that this tax credit be available to taxpayers who are at least seventy years of age, reside full-time in their residence, and meet specific income limits. The bill has been referred to the Committee on FINANCE, REVENUE AND BONDING.

The purpose of this bill is to offer financial relief to seniors by allowing them to claim a credit on their personal income tax for the property taxes they have paid on their primary residence. This initiative is designed to help older residents who may be on a fixed income manage their expenses more effectively. The bill specifies three conditions for eligibility: the taxpayer must be 70 years or older, must live in the residence year-round, and must fall within certain income thresholds.