AN ACT INCREASING THE PROPERTY TAX CREDIT AGAINST THE PERSONAL INCOME TAX FOR CERTAIN PROPERTY OWNERS.

HB 5996 increases the existing property tax credit that reduces personal income tax liability for owners of owner-occupied multifamily dwellings (like apartment buildings where the owner lives in one unit). The bill amends section 12-704c of the general statutes to raise the credit amount for these specific property owners. This directly affects individuals who own and reside in multifamily properties, lowering their personal income tax bill by increasing the credit they can claim. The change provides a concrete tax reduction without altering other tax provisions.