General Assembly Proposed Bill No. 740
January Session, 2021 LCO No. 2068
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
SEN. KELLY, 21st Dist.
SEN. FORMICA, 20th Dist.
AN ACT CONCERNING A TEMPORARY PERSONAL INCOME TAX
CREDIT FOR EXPENSES RELATED TO THE COVID-19 PANDEMIC.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
1 That, for the taxable years commencing January 1, 2020, and January
2 1, 2021, taxpayers shall be allowed to claim a credit against the personal
3 income tax, not to exceed five hundred dollars for married individuals
4 filing jointly and two hundred fifty dollars for all other filers, for
5 expenses related to the COVID-19 pandemic.
Statement of Purpose:
To allow taxpayers a personal income tax credit for the taxable years
commencing January 1, 2020, and January 1, 2021, for expenses related
to the COVID-19 pandemic.
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