AN ACT ELIMINATING THE ESTATE AND GIFT TAXES AND THE QUALIFYING INCOME THRESHOLDS FOR CERTAIN PERSONAL INCOME TAX DEDUCTIONS.

HB 6461 eliminates Connecticut's estate and gift taxes, removing the tax burden on inherited property or large gifts. It also removes income limits for two specific personal income tax deductions: one for Social Security benefits and another for pension or annuity income. This bill directly affects residents who pay estate/gift taxes or claim these deductions, simplifying their tax filing by removing these provisions from the tax code. The change is purely procedural, removing existing tax provisions rather than creating new ones.