CT HB06928

Adds a new deduction to Connecticut's personal income tax allowing taxpayers to subtract student loan forgiveness amounts received, up to a maximum of $10,000 in aggregate.

The deduction applies only to the extent that student loan forgiveness is properly includable in gross income for federal income tax purposes.

Effective January 1, 2024, for taxable years commencing on or after that date.

Modifies section 12-701(a)(20)(B) of Connecticut's general statutes to add this provision as clause (xxviii) among other allowable deductions from gross income.