AN ACT INCREASING THE AMOUNT OF THE PERSONAL INCOME TAX DEDUCTION FOR CONTRIBUTIONS TO STATE-ESTABLISHED 529 QUALIFIED STATE TUITION PROGRAMS.

Plain English Breakdown

The official source material does not provide specific details about the timing of when the changes will take effect or how many taxpayers will be affected, leaving this information uncertain.

Increasing Tax Deduction for College Savings Plans

This act increases the personal income tax deduction limit for contributions to college savings plans in Connecticut.

What This Bill Does

• Increases the personal income tax deduction from $5,000 to $10,000 for individual taxpayers who contribute to a 529 plan.
• Raises the personal income tax deduction from $10,000 to $20,000 for joint filers contributing to a 529 plan.

Who It Names or Affects

• Individual taxpayers who contribute to 529 plans in Connecticut.
• Joint filers who contribute to 529 plans in Connecticut.

Terms To Know

529 plan

A college savings program that allows individuals to save for future education expenses, offering tax advantages and potential financial aid benefits.

Limits and Unknowns

• The bill does not specify when the changes will take effect.
• It is unclear how many taxpayers will be affected by this change.

Official Summary Text

To increase the amount of the personal income tax deduction for contributions to accounts for 529 qualified state tuition programs established and maintained by the state.

Current Bill Text

LCO No. 133 1 of 1

General Assembly Proposed Bill No. 5016
February Session, 2026 LCO No. 133

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
REP. TURCO, 27th Dist.

AN ACT INCREASING THE AMOUNT OF THE PERSONAL INCOME
TAX DEDUCTION FOR CONTRIBUTIONS TO STATE-ESTABLISHED
529 QUALIFIED STATE TUITION PROGRAMS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That section 12 -701a of the general statutes be amended to increase 1
the amount of the personal income tax deduction for contributions to 2
accounts for 529 qualified state tuition programs established and 3
maintained by the state, from five thousand dollars for individual 4
taxpayers to ten thousand dollars and from ten thousand dollars for 5
taxpayers filing a joint return to twenty thousand dollars. 6
Statement of Purpose:
To increase the amount of the personal income tax deduction for
contributions to accounts for 529 qualified state tuition programs
established and maintained by the state.