HB 5088

General Assembly  Proposed Bill No. 5088
      February Session, 2026  LCO No. 692
    Referred to Committee on  FINANCE, REVENUE AND
    BONDING
    Introduced by:
     REP. CARNEY, 23rd Dist.
 AN ACT CONCERNING THE ASSET REQUIREMENT FOR MUTUAL
 FUNDS TO BE QUALIFIED TO PAY EXEMPT-INTEREST DIVIDENDS.
 Be it enacted by the Senate and House of Representatives in General
 Assembly convened:
1  That chapter 229 of the general statutes be amended to eliminate the
2      requirement that at least fifty per cent of the assets of a mutual fund
3      consist of state and municipal government obligations for the fund to be
4      qualified to pay exempt dividends, for purposes of the personal income
5      tax.
       Statement of Purpose:
       To eliminate the requirement that at least fifty per cent of the assets of a
       mutual fund consist of state and municipal government obligations for
       the fund to be qualified to pay exempt dividends, for purposes of the
       personal income tax.
    LCO No. 692  1 of 1