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

Checked against official source text during the last sync.

Removing Income Limits for Tax Deductions on Certain Retirement Benefits

This act removes income limits that people must meet to get tax breaks on their Social Security payments, pensions, and some retirement account withdrawals.

What This Bill Does

• Removes the income limit requirements for getting a personal income tax deduction on Social Security benefits.
• Eliminates the income threshold needed to claim deductions for pension or annuity income from taxes.
• Gets rid of the qualifying income limits for tax deductions on certain individual retirement account (IRA) distributions.

Who It Names or Affects

• People who receive Social Security benefits, pensions, and some types of IRA withdrawals.

Terms To Know

Social Security benefits

Money that retired or disabled people get from the government to help them live.

Pension or annuity income

Regular payments made by an employer to a person after they retire, based on their past work and contributions.

Individual Retirement Account (IRA) distributions

Money taken out of a personal retirement savings account that is meant for the owner's use in retirement.

Limits and Unknowns

• The bill does not specify when these changes will take effect.
• It does not mention how much tax revenue might be lost due to these deductions.

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. 847 1 of 1

General Assembly Proposed Bill No. 5097
February Session, 2026 LCO No. 847

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
REP. ANDERSON, 62nd 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.