AN ACT ELIMINATING THE QUALIFYING INCOME THRESHOLDS FOR THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL SECURITY BENEFITS, PENSION OR ANNUITY INCOME AND CERTAIN INDIVIDUAL RETIREMENT ACCOUNT DISTRIBUTIONS.

Plain English Breakdown

The effective date is missing from the provided metadata and bill excerpt.

Removing Income Limits for Retirement Tax Deductions

This bill removes the qualifying income thresholds that currently limit who can claim tax deductions for Social Security benefits, pension or annuity income, and certain individual retirement account distributions.

What This Bill Does

• Eliminates qualifying income thresholds for personal income tax deductions on Social Security benefits.
• Removes income requirements for deducting pension or annuity income from taxable earnings.
• Deletes the income limits that apply to distributions from individual retirement accounts (IRAs).
• Amends section 12-701 of the general statutes.

Who It Names or Affects

• Individuals who receive Social Security benefits and claim tax deductions.
• People with pension or annuity income who claim tax deductions.
• Taxpayers taking distributions from individual retirement accounts who claim tax deductions.

Limits and Unknowns

• The official text does not state when this law will take effect.
• The bill summary does not explain the specific dollar amounts of the old thresholds being removed.

Official Summary Text

To eliminate the qualifying income thresholds for the personal income tax deductions for Social Security benefits, pension or annuity income and distributions from individual retirement accounts.

Current Bill Text

LCO No. 64 1 of 1

General Assembly Proposed Bill No. 5022
February Session, 2026 LCO No. 64

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
REP. BUCHSBAUM, 69th Dist.

AN ACT ELIMINATING THE QUALIFYING INCOME THRESHOLDS
FOR THE PERSONAL INCOME TAX DEDUCTIONS FOR SOCIAL
SECURITY BENEFITS, PENSION OR ANNUITY INCOME AND
CERTAIN INDIVIDUAL RETIREMENT ACCOUNT DISTRIBUTIONS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That section 12 -701 of the general statutes be amended to eliminate 1
the qualifying income thresholds for the personal income tax deductions 2
for Social Security benefits, pension or annuity income and distributions 3
from individual retirement accounts. 4
Statement of Purpose:
To eliminate the qualifying income thresholds for the personal income
tax deductions for Social Security benefits, pension or annuity income
and distributions from individual retirement accounts.