Connecticut HB 5088: AN ACT APPROPRIATING FUNDS FOR BILINGUAL EDUCATION.

Bill Text

LCO No. 692 1 of 1

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:

That chapter 229 of the general statutes be amended to eliminate the 1
requirement that at least fifty per cent of the assets of a mutual fund 2
consist of state and municipal government obligations for the fund to be 3
qualified to pay exempt dividends, for purposes of the personal income 4
tax. 5
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.