Connecticut HB05131 establishes a personal income tax deduction for principal and interest on postsecondary education loans.
Connecticut HB05131 amends the general statutes to create a personal income tax deduction for up to $10,000 of principal and interest paid on postsecondary education loans. This deduction applies to the amount paid by a taxpayer in a taxable year. The purpose is to provide financial relief to individuals repaying their postsecondary education loans.
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