Sen. Derek Slap

Maddy summarySB 8 creates a new Supplemental Graduate Student Loan Program administered by Connecticut's Higher Education Supplemental Loan Authority. It provides state-funded loans to graduate students enrolled in eligible programs (requiring a bachelor's degree) starting July 1, 2026, with funding secured through a $10 million state bond issue. The program uses a dedicated account to issue loans for graduate education, with repayment terms established by the loan authority. This directly affects Connecticut graduate students seeking financial support for advanced degree programs.

Maddy summaryHB 5144 appropriates funds to cover the cost difference between federal reimbursement rates for reduced-price school meals and full-price meals. It directly affects public school districts participating in federal meal programs by allowing them to provide free breakfasts to all students and free lunches to students already eligible for reduced-price meals. The bill’s key mechanism is reimbursing districts for the gap between what the federal government pays and the actual cost of serving these meals. This policy change ensures schools can maintain these meal programs without charging eligible students, as specified in the bill’s purpose statement.

Maddy summaryHB 5187 adjusts the state's budget management rules by changing how the threshold for transferring revenue to volatility funds is calculated, shifting to an inflation-adjusted five-year moving average instead of the current method. It also increases the maximum capacity of the Budget Reserve Fund to 20% of net General Fund appropriations. These changes aim to stabilize state budgeting by better accounting for inflation and allowing a larger reserve for fiscal uncertainty. The bill affects the state's budgeting procedures and the legislature's oversight of the Budget Reserve Fund.

Maddy summaryHB 5133 increases the highest marginal personal income tax rate from 6.99% to 7.99%. This change directly affects high-income earners who currently pay the top tax rate under the state's income tax structure. The bill amends Section 12-700 of the general statutes to implement this specific percentage increase, with no other provisions or mechanisms described in the text. The measure focuses solely on adjusting the tax rate for the highest income bracket.

Maddy summarySB 183 would allow individual taxpayers to deduct gambling losses from their taxable income when they report gambling winnings. This directly affects people who gamble and have taxable winnings, such as those who win money at casinos, lotteries, or sports betting. The bill establishes a mechanism where losses can be subtracted from winnings to reduce the overall tax liability, meaning taxpayers would only pay income tax on their net gambling profit (winnings minus losses). The bill does not change the tax treatment of gambling winnings themselves, only allowing losses to offset those winnings for tax purposes.

Maddy summarySB 187 redirects the additional 1% sales tax collected on meals sold by restaurants, caterers, and grocery stores to the specific local municipalities where the tax was paid. This changes the current system by ensuring the tax revenue stays in the community where the sale occurred, rather than going to the state. The bill directly affects local governments, providing them with new funding from this tax stream without altering the tax rate or burden on businesses or consumers.

Maddy summaryHB 5186 adjusts Connecticut's affected business entity tax and related credits for businesses claiming federal qualified business income deductions. It adds a 1% surcharge on the business entity tax and a 10% surcharge on federal deductions claimed by filers in the highest tax bracket. The bill also modifies tax credits: reducing the credit to 83.6% for high-bracket filers while increasing it to 93.01% for lower-bracket filers. These changes directly impact businesses using federal pass-through income deductions, particularly those in Connecticut's top tax rate category.

Maddy summaryHB 5185 would impose a surcharge on capital gains and dividends for Connecticut taxpayers with adjusted gross income meeting the threshold for the state's highest marginal income tax rate. It directly affects high-income earners subject to Connecticut's top tax bracket, specifically targeting net gains from selling investments and dividend income. The bill amends state tax law to add this surcharge to the existing tax calculation for qualifying taxpayers. The policy change is a direct revenue measure applying only to those already paying the highest rate on ordinary income.

Maddy summaryThis bill (SB 185) would remove sales and use taxes on electricity and natural gas purchases for small businesses. It amends tax law to specifically exempt these utility costs from existing state taxes. The policy directly affects small businesses by reducing their operating costs for essential energy. The change applies to all qualifying small businesses purchasing electricity or natural gas for their operations.

Maddy summarySB 182 would change how Connecticut taxes Social Security benefits. It proposes two options: either exempt all Social Security benefits from state income tax for every taxpayer, or adjust the income thresholds for tax deductions on these benefits annually based on changes in the consumer price index (inflation). This bill directly affects Connecticut residents who receive Social Security benefits and pay state income tax. The key change would reduce or eliminate the tax burden on these benefits for qualifying individuals.