Connecticut 2021 Regular Session

Connecticut House Bill HB06674 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	LCO 6077 \\PRDFS1\HCOUSERS\BARRYJN\WS\2021HB-06674-R01-
4		-	HB.docx
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7	6		General Assembly Raised Bill No. 6674
8	7		January Session, 2021
9	8		LCO No. 6077
10	9
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12	11		Referred to Committee on FINANCE, REVENUE AND
13	12		BONDING
14	13
15	14
16	15		Introduced by:
17	16		(FIN)
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21	21		AN ACT ESTABLISHING AN INCOME TAX CREDIT FOR LONG-TERM
22	22		CARE INSURANCE PREMI UM PAYMENTS.
23	23		Be it enacted by the Senate and House of Representatives in General
24	24		Assembly convened:
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26	26		Section 1. (NEW) (Effective January 1, 2022, and applicable to taxable 1
27	27		years commencing on or after January 1, 2022) Any eligible taxpayer subject 2
28	28		to the tax under chapter 229 of the general statutes shall be allowed a 3
29	29		credit against the tax imposed under said chapter, other than the 4
30	30		liability imposed under section 12-707 of the general statutes, in an 5
31	31		amount equal to twenty per cent of the premiums paid by such eligible 6
32	32		taxpayer during the taxable year for an individual long-term care policy 7
33	33		for which the eligible taxpayer is the insured. As used in this section, (1) 8
34	34		"eligible taxpayer" means a resident of this state with a federal adjusted 9
35	35		gross income of less than two hundred thousand dollars, (2) "resident of 10
36	36		this state" has the same meaning as provided in subsection (a) of section 11
37	37		12-701 of the general statutes, and (3) "long-term care policy" has the 12
38	38		same meaning as provided in section 38a-501 of the general statutes. 13 Raised Bill No. 6674
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42		-	R01-HB.docx }
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45	44		This act shall take effect as follows and shall amend the following
46	45		sections:
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48	47		Section 1 January 1, 2022, and
49	48		applicable to taxable years
50	49		commencing on or after
51	50		January 1, 2022
52	51		New section
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54		-	FIN Joint Favorable
	53	+	Statement of Purpose:
	54	+	To establish a credit against the personal income tax for a portion of
	55	+	premium payments made for certain individual long-term care
	56	+	insurance policies.
	57	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
	58	+	that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
	59	+	underlined.]
55	60