Increases the property tax credit against personal income tax for primary residences and motor vehicles in Connecticut.
The bill proposes to amend the Connecticut general statutes to increase the maximum allowable credit against personal income tax for a primary residence or motor vehicle from $300 to $1,000. It also raises the minimum allowable credit threshold and expands eligibility by increasing the qualifying Connecticut adjusted gross income. This change aims to provide greater financial relief to eligible taxpayers.
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