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HB 5152

AN ACT CONCERNING THE ESTATE AND GIFT TAXES AND THE USE OF THE REVENUE GENERATED FROM SUCH TAXES.

2025 Regular Session Introduced by Jason Doucette

HB 5152 modifies Connecticut's estate and gift taxes and directs generated revenue allocation, potentially affecting wealth transfer and state budget priorities.

REF. TO JOINT COMM. ON Finance, Revenue and Bonding
#earlychildhoodeducation #estatetax #gifttax
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Bill Summary · HB 5152

Legislative bill overview

HB 5152 proposes modifications to Connecticut's estate and gift tax structure and directs how revenue generated from these taxes should be allocated. The bill was recently referred to the Joint Committee on Finance, Revenue and Bonding for review. Without access to the specific provisions, the bill likely adjusts tax rates, exemption thresholds, or dedicates revenue to particular state programs or accounts.

Why is this important

Estate and gift taxes significantly impact high-net-worth individuals, family businesses, and charitable giving in Connecticut. How revenue from these taxes is used affects state budgeting priorities and can influence whether wealthy residents and businesses choose to remain in or relocate from the state. Changes to these taxes also have cascading effects on estate planning decisions and intergenerational wealth transfer.

Potential points of contention

  • Economic competitiveness concerns: Connecticut's estate tax may already be a factor in resident migration; changes could either worsen or improve this issue depending on the direction of modification
  • Revenue allocation priorities: Stakeholders may disagree on whether new revenue should fund education, infrastructure, tax relief, or other programs
  • Impact on family businesses and farms: Higher or unchanged estate taxes may burden family-owned enterprises trying to pass operations to next generations, versus arguments that wealthy estates should bear higher tax burdens

Compiled from official sources — confirm details with the bill’s official record.

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