CT SB00563

Adds a new income tax deduction for premiums paid for long-term care insurance policies issued under Connecticut General Statutes sections 38a-475, 38a-501, or 38a-528, effective for taxable years commencing January 1, 2019 and thereafter.

The deduction applies to the amount of any premiums paid in the taxable year for qualifying long-term care insurance policies.

Amends Connecticut General Statutes section 12-701(a)(20)(B) to add this deduction as clause (xxvi) among other allowable subtractions from Connecticut adjusted gross income.

The act takes effect from passage and is applicable to taxable years commencing on or after January 1, 2019.