Proposed H.B. No. 5691
Session Year 2023
 


AN ACT ADJUSTING THE QUALIFYING INCOME THRESHOLDS FOR CERTAIN PERSONAL INCOME TAX DEDUCTIONS AND CONCERNING THE CLIFF EFFECT.

To (1) increase, for married individuals filing jointly, the qualifying income thresholds for the personal income tax deductions for Social Security benefits, pension or annuity income and distributions from certain individual retirement accounts, (2) require the qualifying income thresholds for such deductions for all eligible filers to be indexed to reflect the rate of inflation, using the consumer price index, and (3) provide for income threshold phase-outs to eliminate the cliff effect.

Introduced by:
Rep. Kerry S. Wood, 29th Dist.
Rep. Jill Barry, 31st Dist.
Rep. Christopher Poulos, 81st Dist.
Rep. Jennifer Leeper, 132nd Dist.
Rep. Michael D Quinn, 82nd Dist.
Rep. Lucy Dathan, 142nd Dist.

 New today  2-4 days old  5 days & older
   Text of Bill
 Proposed Bill  [doc]
  View or Add Notes to HB-5691

Add Notes to HB-5691

Go To My Bills


This bill is in My Bills.
Do you wish to go to My Bills?

Co-sponsors for Amendment LCO:

Bill History

 Date Action Taken
 1/18/2023Referred to Joint Committee on Finance, Revenue and Bonding

Co-sponsors of HB-5691

NOTE: Please direct all inquiries regarding the status of bills to the Office of the House Clerk and/or Senate Clerks' Office.