Connecticut HB05088 would remove the requirement that mutual funds hold at least 50% of their assets in state and municipal government obligations to.
Connecticut HB05088 proposes to amend chapter 229 of the general statutes by eliminating the requirement that at least 50% of the assets of a mutual fund consist of state and municipal government obligations. This change would allow mutual funds to qualify for exempt-interest dividends for personal income tax purposes without needing to maintain such a high proportion of government securities.
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