You asked for a brief summary of bills the Select Committee on Aging favorably reported to the Finance Committee.

sSB 16 AN ACT CREATING A STATE INCOME TAX EXEMPTION FOR THE EXPENSE OF LONG-TERM CARE INSURANCE

This bill allows individuals to deduct their long-term care insurance premiums from their gross income for purposes of the Connecticut income tax.

Effective Date: January 1, 2005 and applicable to tax years beginning on or after that date

sSB 17 AN ACT CREATING A STATE INCOME TAX EXEMPTION FOR PROCEEDS FROM THE SALE OF STOCKS OR BONDS USED TO FINANCE THE COST OF HOME HEALTH CARE OR NURSING HOME CARE

This bill exempts stock and bond sale proceeds from the state income tax if the taxpayer uses them to pay for his nursing home care or for home care services provide by a home health care agency.

Effective Date: January 1, 2005 and applicable to tax years beginning on or after that date

SB 321 AN ACT CONCERNING A SENIOR CENTER IN THE TOWN OF LEBANON

This bill authorizes up to $ 450,000 in state general obligation bonds for the Department of Economic and Community Development to use for a grant to the town of Lebanon to build a new senior center.

Effective Date: July 1, 2004

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