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Bill > HB05113
CT HB05113
CT HB05113An Act Exempting From The Personal Income Tax The Amount Of State And Federal Debt Settlements And Debt Relief Received By A Taxpayer For Student Loans, Medical Debt And Credit Card Debt.
summary
Introduced
02/10/2026
02/10/2026
In Committee
02/10/2026
02/10/2026
Crossed Over
Passed
Dead
Introduced Session
2026 General Assembly
Bill Summary
To exempt from the personal income tax the amount of any state and federal debt settlements and debt relief received by a taxpayer for student loans, medical debt and credit card debt.
AI Summary
This bill proposes to amend Chapter 229 of the general statutes to exempt from personal income tax any amount of debt settlement or debt relief received by an individual from either state or federal sources, specifically for student loans, medical debt, and credit card debt. This means that if a person receives forgiveness or a reduction in the amount they owe for these types of debts, that forgiven amount will not be considered taxable income.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Vote to Draft (on 02/13/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05113&which_year=2026 |
| BillText | https://www.cga.ct.gov/2026/TOB/H/PDF/2026HB-05113-R00-HB.PDF |
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