CT HB06396

Adds a new income tax deduction for premiums paid on long-term care insurance policies issued under Connecticut statutes (sections 38a-501, 38a-528, or 38a-475).

Effective for taxable years commencing on or after January 1, 2015.

Modifies Connecticut adjusted gross income calculations by allowing taxpayers to subtract long-term care insurance premiums from their taxable income.

Section 1 applies from passage, while Section 2 becomes effective July 1, 2015, and restores language from Public Act 14-47 regarding state teachers' retirement system income exclusions.