Connecticut Enacts Budget Bill, Includes Tax-Related Provisions

The Connecticut Governor signed a budget bill. The law includes: 1) increasing the maximum allowable credit against the personal income tax for a person’s primary residence or motor vehicle; 2) creating a credit against the personal income tax for renters or family caregivers; 3) exempting certain sales from sales and use taxes; and 4) allowing a deduction of the full amount of Social Security benefits that are includable in gross income for federal income tax purposes. The law takes effect at staggered times, with most provisions taking effect July 1 and upon passage. [S.B. 1, enacted 05/26/26]

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