Increases personal income tax deduction for contributions to Connecticut's 529 qualified state tuition programs.
The bill amends the state's general statutes to increase the personal income tax deduction for contributions to 529 qualified state tuition programs. For individual taxpayers, the deduction increases from $5,000 to $7,500. For taxpayers filing a joint return, the deduction rises from $10,000 to $12,500. This change aims to incentivize contributions to state-established tuition savings plans.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.