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CT HB05362
Bill
Status
Introduced
2/29/2012
Primary Sponsor
Higher Education and Employment Advancement Committee
Click for details
AI Summary
- Allows Connecticut taxpayers to deduct student loan interest payments from personal income tax, effective for taxable years beginning January 1, 2012
- Maximum annual deduction is $2,500 per taxpayer for interest paid on qualified student loans
- Applies to loans taken out for qualified education expenses (tuition, fees, room and board, books, supplies, and necessary expenses) at eligible institutions of higher education for the taxpayer, spouse, or dependent
- Deduction available only to taxpayers with modified adjusted gross income below $75,000 (or $150,000 for joint filers) and filing status other than married filing separately
- Defines qualified student loans as loans used to pay education costs for eligible students enrolled at least half-time in certificate or degree programs at institutions participating in federal student aid programs
Legislative Description
An Act Concerning A Deduction From The Personal Income Tax For Student Loan Interest.
Last Action
Favorable Change of Reference, Senate to Committee on Finance, Revenue and Bonding
3/19/2012
Committee Referrals
Finance, Revenue and Bonding3/13/2012
Higher Education and Employment Advancement2/29/2012
Full Bill Text
No bill text available