LCO No. 497 1 of 1 General Assembly Proposed Bill No. 5328 January Session, 2019 LCO No. 497 Referred to Committee on FINANCE, REVENUE AND BONDING Introduced by: REP. HARDING, 107th Dist. AN ACT ESTABLISHING A CREDIT AGAINST THE PERSONAL INCOME TAX FOR INTEREST AND PRINCIPAL PAID ON STUDENT LOANS. Be it enacted by the Senate and House of Representatives in General Assembly convened: That chapter 229 of the general statutes be amended to establish a 1 credit against the personal income tax for interest and principal paid 2 on student loans. 3 Statement of Purpose: To establish a credit against the personal income tax for interest and principal paid on student loans.