Connecticut HB05112 exempts from personal income tax the amount of state and federal debt relief received for student loans and medical debt.
Connecticut HB05112 amends the general statutes to exempt from personal income tax the amount of any state and federal debt relief received by a taxpayer for student loans and medical debt. This bill aims to provide financial relief to taxpayers by ensuring that debt relief amounts are not subject to personal income tax. The exemption applies to both state and federal debt relief, covering student loans and medical debt specifically.
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