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

HB 5103 increases the personal income tax deduction for contributions to state-run 529 college savings plans from $5,000 to $15,000 annually for individual taxpayers. The bill directly affects residents who contribute to Connecticut's 529 tuition programs, allowing them to reduce taxable income by a larger amount. Key provision: it amends the tax code to raise the deduction limit without changing eligibility rules for the state's 529 plans. This is a concrete policy change to enhance tax benefits for college savings, not a procedural measure. The bill aims to make saving for education more financially accessible for Connecticut taxpayers.