Bill > HB05115

This bill proposes to amend existing tax laws to create a new personal income tax deduction for individuals who have lost money due to cryptocurrency investment fraud or wire fraud. This deduction would be equal to the amount of loss that is already recognized as deductible for federal income tax purposes, meaning taxpayers would be able to reduce their state taxable income by the same amount they can reduce their federal taxable income for these specific types of losses. The purpose of this legislation is to provide financial relief to victims of these types of fraudulent activities by allowing them to claim a deduction on their state income taxes.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05115&which_year=2026