SB 261 Summary

• Adds two new state income tax deductions for full-time home care expenses, effective for taxable years beginning January 1, 2022

• Allows taxpayers to deduct up to $60,000 annually for ordinary and necessary expenses for care of relatives age 70 or older (related by blood, adoption, or marriage), including medical supplies, homemaker-companion agency services, and home health agency services

• Allows taxpayers to deduct up to $60,000 annually for ordinary and necessary expenses for care of qualifying individuals as defined under federal tax code sections 21(b)(1)(B) and 21(b)(1)(C), including the same types of home care services and supplies

• Both deductions apply only to costs not otherwise deductible under federal income tax law or other state tax provisions

• Amends Connecticut General Statutes section 12-701(a)(20)(B) to add these new deduction provisions