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CT HB05018

Bill

Official Source

Status

Introduced

2/4/2026

Primary Sponsor

Gary Turco

Click for details

Origin

House of Representatives

2026 General Assembly

AI Summary

  • Amends section 12-701 of the general statutes to create a new Connecticut personal income tax deduction

  • Deduction applies to payments received from insurance companies for buyouts or cancellations of long-term care insurance policies

  • Only the portion of the payment that is includable in federal gross income qualifies for the state deduction

  • Introduced by Rep. Turco (27th District) and Rep. DeMicco (21st District), referred to the Finance, Revenue and Bonding Committee

Legislative Description

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

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

2/4/2026

Committee Referrals

Finance, Revenue and Bonding2/4/2026

Full Bill Text

No bill text available