CT HB06986

Adds a new deduction to Connecticut's "adjusted gross income" definition for premiums paid on long-term care insurance policies issued under Connecticut General Statutes sections 38a-475, 38a-501, or 38a-528.

Allows taxpayers to subtract long-term care insurance premiums from their Connecticut adjusted gross income in the taxable year the premiums are paid.

Effective for taxable years commencing on or after January 1, 2017.

Amends section 12-701(a)(20) of the Connecticut General Statutes by adding clause (xxi) to the list of items subtracted when calculating Connecticut adjusted gross income.