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 of the law is missing from the provided metadata and bill text excerpts.

Removing Income Limits on Retirement Tax Deductions

This bill removes the qualifying income thresholds that currently limit who can claim personal income 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 related to Social Security benefits.
• Removes qualifying income thresholds for claiming deductions on pension or annuity income.
• Deletes qualifying income thresholds that apply to distributions from certain individual retirement accounts (IRAs).
• Amends section 12-701 of the general statutes.

Who It Names or Affects

• Individuals who receive Social Security benefits, pensions, or annuities.
• People taking distributions from certain individual retirement accounts (IRAs).

Limits and Unknowns

• The official text does not state when this law will take effect.
• It is unclear if other types of retirement income besides those listed also qualify for these changes.

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.