# Connecticut SB 00602: AN ACT CONCERNING THE PERSONAL INCOME TAX MARGINAL RATES, THE ASSET EXPENSE DEDUCTION FOR CORPORATIONS AND THE LIMIT OF BOND ISSUANCES THE STATE BOND COMMISSION MAY AUTHORIZE.

Connecticut SB 00602, AN ACT CONCERNING THE PERSONAL INCOME TAX MARGINAL RATES, THE ASSET EXPENSE DEDUCTION FOR CORPORATIONS AND THE LIMIT OF BOND ISSUANCES THE STATE BOND COMMISSION MAY AUTHORIZE., is a 2025 Regular Session Senate bill sponsored by Ryan Fazio (Republican); status failed, last action 2025-01-15 (Referred to Joint Committee on Finance, Revenue and Bonding) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/CT-SB00602-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Connecticut SB 00602
- State: Connecticut
- Session: 2025 Regular Session
- Title: AN ACT CONCERNING THE PERSONAL INCOME TAX MARGINAL RATES, THE ASSET EXPENSE DEDUCTION FOR CORPORATIONS AND THE LIMIT OF BOND ISSUANCES THE STATE BOND COMMISSION MAY AUTHORIZE.
- Status: failed
- Chamber: Senate
- Introduced: 2025-01-15
- Last action: 2025-01-15, Referred to Joint Committee on Finance, Revenue and Bonding
- Sponsor: Ryan Fazio (Republican)
- Cosponsors: 0
- Subjects: finance, revenue and bonding
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

To (1) reduce the marginal rates for the personal income tax and allow an eligible taxpayer to claim the entirety of an asset expense deduction under Section 179 of the Internal Revenue Code at once rather than incrementally, for taxable and income years commencing January 1, 2028, (2) establish a task force to develop a plan to implement the specified personal income tax rate reductions in a revenue-neutral way, and (3) limit the amount of bond issuances the State Bond Commission may authorize to not more than the amount of estimated revenue projected for the fiscal year divided by fifteen.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Ryan Fazio (Republican), Senate

## Actions (1)

- 2025-01-15: Referred to Joint Committee on Finance, Revenue and Bonding (legislature)

## Bill text

- Proposed Bill, 2025-01-15: [PDF](https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-00602-R00-SB.PDF)

## Related bills

- HB 05013: AN ACT ADDING CERTAIN PLANTS TO THE INVASIVE PLANTS LIST. (signed)
- SB 01558: AN ACT CONCERNING INCOME TAXES IMPOSED BY OTHER JURISDICTIONS ON RESIDENTS OF THE STATE. (signed)
- SB 01396: AN ACT CONCERNING EARNED BUT UNPAID WAGE OR SALARY INCOME ADVANCES. (signed)
- SB 01187: AN ACT CONCERNING FORECLOSURE, ASSIGNMENT AND OTHER ENFORCEMENT ACTIONS FOR UNPAID SEWER ASSESSMENTS AND OTHER FEES AND CHARGES. (signed)
- HB 07236: AN ACT CONCERNING HUMAN TRAFFICKING AND SEXUAL ASSAULT VICTIMS. (signed)
- HB 07192: AN ACT IMPLEMENTING RECOMMENDATIONS OF THE BIPARTISAN DRUG TASK FORCE. (signed)

## Sources
- [Proposed Bill (PDF)](https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-00602-R00-SB.PDF)

## Related
- [HB 05013: AN ACT ADDING CERTAIN PLANTS TO THE INVASIVE PLANTS LIST.](https://policyrisk.com/state-bill/CT-HB05013-2025)
- [SB 01558: AN ACT CONCERNING INCOME TAXES IMPOSED BY OTHER JURISDICTIONS ON RESIDENTS OF T…](https://policyrisk.com/state-bill/CT-SB01558-2025)
- [SB 01396: AN ACT CONCERNING EARNED BUT UNPAID WAGE OR SALARY INCOME ADVANCES.](https://policyrisk.com/state-bill/CT-SB01396-2025)
- [SB 01187: AN ACT CONCERNING FORECLOSURE, ASSIGNMENT AND OTHER ENFORCEMENT ACTIONS FOR UNP…](https://policyrisk.com/state-bill/CT-SB01187-2025)
- [HB 07236: AN ACT CONCERNING HUMAN TRAFFICKING AND SEXUAL ASSAULT VICTIMS.](https://policyrisk.com/state-bill/CT-HB07236-2025)
- [HB 07192: AN ACT IMPLEMENTING RECOMMENDATIONS OF THE BIPARTISAN DRUG TASK FORCE.](https://policyrisk.com/state-bill/CT-HB07192-2025)
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Source: PRIA, https://policyrisk.com/state-bill/CT-SB00602-2025 (as of 2026-10-17).