General Assembly Proposed Bill No. 6377
January Session, 2017 LCO No. 2172
*02172*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. HADDAD, 54th Dist. SEN. FLEXER, 29th Dist.
General Assembly
Proposed Bill No. 6377
January Session, 2017
LCO No. 2172
*02172*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. HADDAD, 54th Dist.
SEN. FLEXER, 29th Dist.
AN ACT CONCERNING A DEDUCTION FROM THE PERSONAL INCOME TAX FOR STUDENT LOAN INTEREST.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That title 12 of the general statutes be amended to establish a deduction from the personal income tax for student loan interest, wherein the maximum annual modification shall be equal to the amount of interest paid on a qualified student loan, but shall not exceed two thousand five hundred dollars for each taxpayer, provided (1) the taxpayer's filing status is any filing status except married filing separately, (2) no other person is claiming an exemption for the taxpayer on such other person's return, (3) the taxpayer is legally obligated to pay interest on a qualified student loan, (4) the taxpayer paid interest on a qualified student loan, and (5) the taxpayer's modified adjusted gross income is less than seventy-five thousand dollars or less than one hundred fifty thousand dollars for taxpayers filing a joint return.
Statement of Purpose:
To provide tax relief to persons paying student loan interest by establishing a deduction from the personal income tax for student loan interest.