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CT HB05144

Bill

Official Source

Status

Introduced

1/14/2025

Primary Sponsor

Gary Turco

Click for details

Origin

House of Representatives

2025 General Assembly

AI Summary

  • Amends section 12-701 of Connecticut general statutes to create a new personal income tax deduction for payments received from insurance company buyouts or cancellations of long-term care insurance policies

  • Deduction applies only to the portion of buyout payments that are includable in federal gross income

  • Introduced by Rep. Turco (27th District) and Rep. DeMicco (21st District) during the January 2025 session

  • Referred to the Committee on Finance, Revenue and Bonding for consideration

Legislative Description

An Act Establishing A Personal Income Tax Deduction For Certain Payments Received From An Insurance Company.

Last Action

Public Hearing 02/26

2/20/2025

Committee Referrals

Finance, Revenue and Bonding1/14/2025

Full Bill Text

No bill text available