Connecticut 2026 Session Status: In Committee 1 D cosponsors

HB 5115 — AN ACT ESTABLISHING A PERSONAL INCOME TAX DEDUCTION FOR CERTAIN LOSSES INCURRED AS A RESULT OF CRYPTOCURRENCY INVESTMENT FRAUD OR WIRE FRAUD.

Last action — FILE NO. 664

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced February 10, 2026. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 16% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

118 added · 54 removed

Plain-language change summary

The revised version of House Bill 5115 removes the proposal for a personal income tax deduction related to losses from cryptocurrency investment fraud or wire fraud. Instead, it focuses on clarifying existing tax regulations regarding what can be deducted from taxable income. This change matters because it sidelines a specific relief measure for cryptocurrency investors, potentially leaving them without a tax break for such losses, while ensuring that other tax provisions remain clear and applicable.

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General Assembly Committee Bill No.
House of Representatives General Assembly File No.
5115 February Session, 2026 LCO No.
664 February Session, 2026 House Bill No.
2233 Referred to Committee on FINANCE, REVENUE AND BONDING Introduced by:
5115 House of Representatives, April 16, 2026 The Committee on Finance, Revenue and Bonding reported through REP.
(FIN) AN ACT ESTABLISHING A PERSONAL INCOME TAX DEDUCTION FOR CERTAIN LOSSES INCURRED AS A RESULT OF CRYPTOCURRENCY INVESTMENT FRAUD OR WIRE FRAUD.
HORN of the 64th Dist., Chairperson of the Committee on the part of the House, that the bill ought to pass.
AN ACT ESTABLISHING A PERSONAL INCOME TAX DEDUCTION FOR CERTAIN LOSSES INCURRED AS A RESULT OF CRYPTOCURRENCY INVESTMENT FRAUD OR WIRE FRAUD.
(iii) To the extent properly includable in gross income for federal income tax purposes, the amount of any refund or credit for LCO 2233 1 of 14 Committee Bill No.
(iii) To the extent properly includable in gross income for federal HB5115 / File No.
5115 overpayment of income taxes imposed by this state, or any other state of the United States or a political subdivision thereof, or the District of Columbia;
664 1 HB5115 File No.
664 income tax purposes, the amount of any refund or credit for overpayment of income taxes imposed by this state, or any other state of the United States or a political subdivision thereof, or the District of Columbia;
(viii) Any interest on indebtedness incurred or continued to purchase or carry obligations or securities the interest on which is subject to tax under thischapter butexempt fromfederalincome tax,totheextentthat such interest on indebtedness is not deductible in determining federal adjusted gross income and is attributable to a trade or business carried LCO 2233 2 of 14 Committee Bill No.
(viii) Any interest on indebtedness incurred or continued to purchase or carry obligations or securities the interest on which is subject to tax under thischapter butexempt fromfederalincome tax,totheextentthat such interest on indebtedness is not deductible in determining federal HB5115 / File No.
5115 on by such individual;
664 2 HB5115 File No.
664 adjusted gross income and is attributable to a trade or business carried on by such individual;
(II) For taxable years commencing prior to January 1, 2019, for a person who files a return under the federal income tax as an unmarried individual whose federal adjusted gross income for such taxable year is fifty thousand dollars or more, or as a married individual filing separately whose federal adjusted gross income for such taxable year is fifty thousand dollars or more, or for a husband and wife who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income from such taxable year is sixty thousand dollars or more or for a person who files a return under the LCO 2233 3 of 14 Committee Bill No.
(II) For taxable years commencing prior to January 1, 2019, for a person who files a return under the federal income tax as an unmarried individual whose federal adjusted gross income for such taxable year is fifty thousand dollars or more, or as a married individual filing separately whose federal adjusted gross income for such taxable year is fifty thousand dollars or more, or for a husband and wife who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income from such taxable year is sixty HB5115 / File No.
5115 federal income tax as a head of household whose federal adjusted gross income for such taxable year is sixty thousand dollars or more, an amount equal to the difference between the amount of Social Security benefits includable for federal income tax purposes and the lesser of twenty-five per cent of the Social Security benefits received during the taxable year, or twenty-five per cent of the excess described in Section 86(b)(1) of the Internal Revenue Code;
664 3 HB5115 File No.
664 thousand dollars or more or for a person who files a return under the federal income tax as a head of household whose federal adjusted gross income for such taxable year is sixty thousand dollars or more, an amount equal to the difference between the amount of Social Security benefits includable for federal income tax purposes and the lesser of twenty-five per cent of the Social Security benefits received during the taxable year, or twenty-five per cent of the excess described in Section 86(b)(1) of the Internal Revenue Code;
and (IV) For the taxable year commencing January 1, 2019, and each taxable year thereafter, for a person who files a return under the federal income tax as an unmarried individual whose federal adjusted gross income for such taxable year is seventy-five thousand dollars or more, or asamarriedindividualfiling separately whosefederaladjustedgross income for such taxable year is seventy-five thousand dollars or more, or for a husband and wife who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income from such taxable year is one hundred thousand dollars or more or for a person who files a return under the federal income tax as a head of household whose federal adjusted gross income for such taxable year is one hundred thousand dollars or more, an amount equal to the difference between the amount of Social Security benefits includable for federal income tax purposes and the lesser of twenty-five per cent of the LCO 2233 4 of 14 Committee Bill No.
and (IV) For the taxable year commencing January 1, 2019, and each taxable year thereafter, for a person who files a return under the federal income tax as an unmarried individual whose federal adjusted gross income for such taxable year is seventy-five thousand dollars or more, or asamarriedindividualfiling separately whosefederaladjustedgross income for such taxable year is seventy-five thousand dollars or more, or for a husband and wife who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income from such taxable year is one hundred thousand dollars or more or for a person who files a return under the federal income tax as a head of household whose federal adjusted gross income for such taxable year is one hundred thousand dollars or more, an amount equal to the difference between the amount of Social Security benefits includable for HB5115 / File No.
5115 Social Security benefits received during the taxable year, or twenty-five per cent of the excess described in Section 86(b)(1) of the Internal Revenue Code;
664 4 HB5115 File No.
664 federal income tax purposes and the lesser of twenty-five per cent of the Social Security benefits received during the taxable year, or twenty-five per cent of the excess described in Section 86(b)(1) of the Internal Revenue Code;
(xvi) To the extent properly includable in gross income for federal income tax purposes, any income received from the United States government as retirement pay for a retired member of (I) the Armed Forces of the United States, as defined in Section 101 of Title 10 of the United States Code, or (II) the National Guard, as defined in Section 101 LCO 2233 5 of 14 Committee Bill No.
(xvi) To the extent properly includable in gross income for federal income tax purposes, any income received from the United States government as retirement pay for a retired member of (I) the Armed Forces of the United States, as defined in Section 101 of Title 10 of the HB5115 / File No.
5115 of Title 10 of the United States Code;
664 5 HB5115 File No.
664 United States Code, or (II) the National Guard, as defined in Section 101 of Title 10 of the United States Code;
(xx) To the extent properly includable in gross income for federal income tax purposes, except for retirement benefits under clause (iv) of this subparagraph and retirement pay under clause (xvi) of this subparagraph, for a person who files a return under the federal income LCO 2233 6 of 14 Committee Bill No.
(xx) To the extent properly includable in gross income for federal income tax purposes, except for retirement benefits under clause (iv) of this subparagraph and retirement pay under clause (xvi) of this subparagraph, for a person who files a return under the federal income HB5115 / File No.
5115 tax as an unmarried individual whose federal adjusted gross income for such taxable year is less than seventy-five thousand dollars, or as a married individual filing separately whose federal adjusted gross income for such taxable year is less than seventy-five thousand dollars, or as a head of household whose federal adjusted gross income for such taxable year is less than seventy-five thousand dollars, or for a husband and wife who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income for such taxableyearislessthanonehundredthousanddollars,(I)forthetaxable year commencing January 1, 2019, fourteen per cent of any pension or annuity income, (II) for the taxable year commencing January 1, 2020, twenty-eight per cent of any pension or annuity income, (III) for the taxable year commencing January 1, 2021, forty-two per cent of any pension or annuity income, and (IV) for the taxable years commencing January 1, 2022, and January 1, 2023, one hundred per cent of any pension or annuity income;
664 6 HB5115 File No.
664 tax as an unmarried individual whose federal adjusted gross income for such taxable year is less than seventy-five thousand dollars, or as a married individual filing separately whose federal adjusted gross income for such taxable year is less than seventy-five thousand dollars, or as a head of household whose federal adjusted gross income for such taxable year is less than seventy-five thousand dollars, or for a husband and wife who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income for such taxableyearislessthanonehundredthousanddollars,(I)forthetaxable year commencing January 1, 2019, fourteen per cent of any pension or annuity income, (II) for the taxable year commencing January 1, 2020, twenty-eight per cent of any pension or annuity income, (III) for the taxable year commencing January 1, 2021, forty-two per cent of any pension or annuity income, and (IV) for the taxable years commencing January 1, 2022, and January 1, 2023, one hundred per cent of any pension or annuity income;
T1 Federal Adjusted Gross Income Deduction T2 Less than $75,000 100.0% T3 $75,000 but not over $77,499 85.0% T4 $77,500 but not over $79,999 70.0% LCO 2233 7 of 14 Committee Bill No.
T1 Federal Adjusted Gross Income Deduction T2 Less than $75,000 100.0% T3 $75,000 but not over $77,499 85.0% T4 $77,500 but not over $79,999 70.0% HB5115 / File No.
5115 $80,000 but not over $82,499 55.0% T5 T6 $82,500 but not over $84,999 40.0% $85,000 but not over $87,499 25.0% T7 T8 $87,500 but not over $89,999 10.0% $90,000 but not over $94,999 5.0% T9 T10 $95,000 but not over $99,999 2.5% T11 $100,000 and over 0.0% (xxii) To the extent properly includable in gross income for federal income tax purposes, except for retirement benefits under clause (iv) of this subparagraph and retirement pay under clause (xvi) of this subparagraph, any pension or annuity income for the taxable year commencing on or after January 1, 2024, and each taxable year thereafter, in accordance with the following schedule for married individuals who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income for such taxable year is less than one hundred fifty thousand dollars:
664 7 HB5115 File No.
664 $80,000 but not over $82,499 55.0% T5 T6 $82,500 but not over $84,999 40.0% $85,000 but not over $87,499 25.0% T7 T8 $87,500 but not over $89,999 10.0% $90,000 but not over $94,999 5.0% T9 T10 $95,000 but not over $99,999 2.5% T11 $100,000 and over 0.0% (xxii) To the extent properly includable in gross income for federal income tax purposes, except for retirement benefits under clause (iv) of this subparagraph and retirement pay under clause (xvi) of this subparagraph, any pension or annuity income for the taxable year commencing on or after January 1, 2024, and each taxable year thereafter, in accordance with the following schedule for married individuals who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income for such taxable year is less than one hundred fifty thousand dollars:
LCO 2233 8 of 14 Committee Bill No.
HB5115 / File No.
5115 (xxiv) To the extent properly includable in gross income for federal income tax purposes, the amount of any financial assistance received from the Crumbling Foundations Assistance Fund or paid to or on behalf of the owner of a residential building pursuant to sections 8-442 and 8-443;
664 8 HB5115 File No.
664 (xxiv) To the extent properly includable in gross income for federal income tax purposes, the amount of any financial assistance received from the Crumbling Foundations Assistance Fund or paid to or on behalf of the owner of a residential building pursuant to sections 8-442 and 8-443;
(xxviii) To the extent properly includable in gross income for federal income tax purposes, for a person who files a return under the federal LCO 2233 9 of 14 Committee Bill No.
(xxviii) To the extent properly includable in gross income for federal income tax purposes, for a person who files a return under the federal income tax as an unmarried individual whose federal adjusted gross HB5115 / File No.
5115 income tax as an unmarried individual whose federal adjusted gross income for such taxable year is less than one hundred thousand dollars, or asamarriedindividualfiling separately whosefederaladjustedgross income for such taxable year is less than one hundred thousand dollars, or as a head of household whose federal adjusted gross income for such taxableyearislessthan onehundredthousanddollars,(I)forthetaxable year commencing January 1, 2024, fifty per cent of any distribution from an individual retirement account other than a Roth individual retirementaccount,(II)forthetaxableyearcommencingJanuary1,2025, seventy-five per cent of any distribution from an individual retirement account other than a Roth individual retirement account, and (III) for the taxable year commencing January 1, 2026, and each taxable year thereafter, any distribution from an individual retirement account other than a Roth individual retirement account.
664 9 HB5115 File No.
664 income for such taxable year is less than one hundred thousand dollars, or asamarriedindividualfiling separately whosefederaladjustedgross income for such taxable year is less than one hundred thousand dollars, or as a head of household whose federal adjusted gross income for such taxableyearislessthan onehundredthousanddollars,(I)forthetaxable year commencing January 1, 2024, fifty per cent of any distribution from an individual retirement account other than a Roth individual retirementaccount,(II)forthetaxableyearcommencingJanuary1,2025, seventy-five per cent of any distribution from an individual retirement account other than a Roth individual retirement account, and (III) for the taxable year commencing January 1, 2026, and each taxable year thereafter, any distribution from an individual retirement account other than a Roth individual retirement account.
T23 Federal Adjusted Gross Income Deduction Less than $75,000 100.0% T24 T25 $75,000 but not over $77,499 85.0% $77,500 but not over $79,999 70.0% T26 T27 $80,000 but not over $82,499 55.0% $82,500 but not over $84,999 40.0% T28 T29 $85,000 but not over $87,499 25.0% $87,500 but not over $89,999 10.0% T30 T31 $90,000 but not over $94,999 5.0% $95,000 but not over $99,999 2.5% T32 T33 $100,000 and over 0.0% (xxix) To the extent properly includable in gross income for federal income tax purposes, for married individuals who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income for such taxable year is less than one hundred fifty thousand dollars, (I) for the taxable year commencing January 1, 2024, fifty per cent of any distribution from an individual retirement account other than a Roth individual retirement account, (II) LCO 2233 10 of 14 Committee Bill No.
T23 Federal Adjusted Gross Income Deduction T24 Less than $75,000 100.0% $75,000 but not over $77,499 85.0% T25 T26 $77,500 but not over $79,999 70.0% $80,000 but not over $82,499 55.0% T27 T28 $82,500 but not over $84,999 40.0% $85,000 but not over $87,499 25.0% T29 T30 $87,500 but not over $89,999 10.0% $90,000 but not over $94,999 5.0% T31 T32 $95,000 but not over $99,999 2.5% $100,000 and over 0.0% T33 (xxix) To the extent properly includable in gross income for federal income tax purposes, for married individuals who file a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income for such taxable year is less than one hundred fifty thousand dollars, (I) for the taxable year commencing January 1, 2024, fifty per cent of any distribution from an individual retirement account other than a Roth individual retirement account, (II) for the taxable year commencing January 1, 2025, seventy-five per cent HB5115 / File No.
5115 for the taxable year commencing January 1, 2025, seventy-five per cent of any distribution from an individual retirement account other than a Roth individual retirement account, and (III) for the taxable year commencing January 1, 2026, and each taxable year thereafter, any distribution from an individual retirement account other than a Roth individual retirement account.
664 10 HB5115 File No.
664 of any distribution from an individual retirement account other than a Roth individual retirement account, and (III) for the taxable year commencing January 1, 2026, and each taxable year thereafter, any distribution from an individual retirement account other than a Roth individual retirement account.
T34 Federal Adjusted Gross Income Deduction T35 Less than $100,000 100.0% T36 $100,000 but not over $104,999 85.0% T37 $105,000 but not over $109,999 70.0% T38 $110,000 but not over $114,999 55.0% T39 $115,000 but not over $119,999 40.0% T40 $120,000 but not over $124,999 25.0% $125,000 but not over $129,999 10.0% T41 T42 $130,000 but not over $139,999 5.0% $140,000 but not over $149,999 2.5% T43 T44 $150,000 and over 0.0% (xxx) To the extent properly includable in gross income for federal income tax purposes, for the taxable year commencing January 1, 2022, the amount or amounts paid or otherwise credited to any eligible resident of this state under (I) the 2020 Earned Income Tax Credit enhancement program from funding allocated to the state through the Coronavirus Relief Fund established under the Coronavirus Aid, Relief, and Economic Security Act, P.L.
T34 Federal Adjusted Gross Income Deduction T35 Less than $100,000 100.0% T36 $100,000 but not over $104,999 85.0% T37 $105,000 but not over $109,999 70.0% T38 $110,000 but not over $114,999 55.0% T39 $115,000 but not over $119,999 40.0% T40 $120,000 but not over $124,999 25.0% T41 $125,000 but not over $129,999 10.0% $130,000 but not over $139,999 5.0% T42 T43 $140,000 but not over $149,999 2.5% $150,000 and over 0.0% T44 (xxx) To the extent properly includable in gross income for federal income tax purposes, for the taxable year commencing January 1, 2022, the amount or amounts paid or otherwise credited to any eligible resident of this state under (I) the 2020 Earned Income Tax Credit enhancement program from funding allocated to the state through the Coronavirus Relief Fund established under the Coronavirus Aid, Relief, and Economic Security Act, P.L.
(xxxi) For the taxable year commencing January 1, 2023, and each taxable year thereafter, for a taxpayer licensed under the provisions of chapter 420f or 420h, the amount of ordinary and necessary expenses that would be eligible to be claimed as a deduction for federal income LCO 2233 11 of 14 Committee Bill No.
(xxxi) For the taxable year commencing January 1, 2023, and each taxable year thereafter, for a taxpayer licensed under the provisions of chapter 420f or 420h, the amount of ordinary and necessary expenses that would be eligible to be claimed as a deduction for federal income tax purposes under Section 162(a) of the Internal Revenue Code but that are disallowed under Section 280E of the Internal Revenue Code HB5115 / File No.
5115 tax purposes under Section 162(a) of the Internal Revenue Code but that are disallowed under Section 280E of the Internal Revenue Code because marijuana is a controlled substance under the federal Controlled Substance Act;
664 11 HB5115 File No.
664 because marijuana is a controlled substance under the federal Controlled Substance Act;
(I) To the extent not deductible in determining federal adjusted gross income, for the taxable year commencing January 1, 2027, an amount equal to the contributions deposited during the taxable years commencing January 1, 2026, and January 1, 2027, in a first-time LCO 2233 12 of 14 Committee Bill No.
(I) To the extent not deductible in determining federal adjusted gross income, for the taxable year commencing January 1, 2027, an amount equal to the contributions deposited during the taxable years commencing January 1, 2026, and January 1, 2027, in a first-time homebuyer savings account established pursuant to subsection (c) of section 12-724b, less any amounts withdrawn during said taxable years HB5115 / File No.
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5115 homebuyer savings account established pursuant to subsection (c) of section 12-724b, less any amounts withdrawn during said taxable years by the account holder from such account under subparagraph (D) of subdivision (2) of subsection (f) of section 12-724b.
664 12 HB5115 File No.
664 by the account holder from such account under subparagraph (D) of subdivision (2) of subsection (f) of section 12-724b.
[and] (xxxvii) To the extent properly includable in gross income for federal income tax purposes, for the taxable year commencing January 1, 2027, andeachtaxableyearthereafter,foranaccountholderwhoisaqualified beneficiary of a first-time homebuyer savings account, as those terms are defined in section 12-724b, and who files a return under the federal income tax as an unmarried individual, a married individual filing LCO 2233 13 of 14 Committee Bill No.
[and] (xxxvii) To the extent properly includable in gross income for federal income tax purposes, for the taxable year commencing January 1, 2027, andeachtaxableyearthereafter,foranaccountholderwhoisaqualified beneficiary of a first-time homebuyer savings account, as those terms are defined in section 12-724b, and who files a return under the federal income tax as an unmarried individual, a married individual filing separately or a head of household, whose federal adjusted gross income for the taxable year is less than one hundred twenty-five thousand HB5115 / File No.
5115 separately or a head of household, whose federal adjusted gross income for the taxable year is less than one hundred twenty-five thousand dollars or who files a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income for the taxable year is less than two hundred fifty thousand dollars, an amount equal to any withdrawal from such account that is used to pay or reimburse such qualified beneficiary for eligible costs, as defined in section 12-724b, incurred by the qualified beneficiary;
664 13 HB5115 File No.
664 dollars or who files a return under the federal income tax as married individuals filing jointly whose federal adjusted gross income for the taxable year is less than two hundred fifty thousand dollars, an amount equal to any withdrawal from such account that is used to pay or reimburse such qualified beneficiary for eligible costs, as defined in section 12-724b, incurred by the qualified beneficiary;
Section 1 January 1, 2027, and 12-701(a)(20)(B) applicable to taxable years commencing on or after January 1, 2027 FIN Joint Favorable LCO 2233 14 of 14
Section 1 January 1, 2027, and 12-701(a)(20)(B) applicable to taxable years commencing on or after January 1, 2027 FIN Joint Favorable HB5115 / File No.
664 14 HB5115 File No.
664 The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose.
In general, fiscal impacts are based upon a variety of informational sources, including the analyst’s professional knowledge.
Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.
OFA Fiscal Note State Impact:
Agency Affected Fund-Effect FY 27 $ FY 28 $ Department of Revenue Services GF - Potential None Up to 3.8 Revenue Loss million Note:
GF=General Fund Municipal Impact:
None Explanation The bill, which establishes a personal income tax deduction for the amount of a theft loss from cryptocurrency investment fraud or wire fraud that is deductible for federal income tax purposes, results in a potential General Fund revenue loss of up to $3.8 million annually beginning asearly asFY 28.
The precise revenue lossisdependent upon the volume and magnitude of losses that would be deductible annually under the bill.
1 The Out Years The annualized ongoing fiscal impact identified above would continue into the future.
Sources:
Federal Bureau of Investigation Internet Crime Report 2025 Internal Revenue Service Topic no.
515, Casualty, disaster, and theft losses To claim a theft loss, the Internal Revenue Service instructs victims to do so as itemized deductions.
As of the 2022 tax year (the most recent data available), approximately 11% of Connecticut filers claimed itemized deductions on their federal personal income taxes.
HB5115 / File No.
664 15 HB5115 File No.
664 OLR Bill Analysis HB 5115 AN ACT ESTABLISHING A PERSONAL INCOME TAX DEDUCTION FOR CERTAIN LOSSES INCURRED AS A RESULT OF CRYPTOCURRENCY INVESTMENT FRAUD OR WIRE FRAUD.
SUMMARY This bill creates a personal income tax deduction for the amount of a theft loss from cryptocurrency investment fraud or wire fraud that is deductible for federal income tax purposes.
Federal law allows an income tax deduction for certain losses sustained during a taxable year that are uncompensated, such as by insurance.
Specifically, for individuals with losses that are not connected with a trade or business, it allows a deduction for:
1.
losses incurred in a transaction entered into for profit (26 U.S.C.
§ 165(c)(2)) and 2.
certainother losses notconnectedto atransactionenteredintofor profit that are referred to as personal casualty losses (26 U.S.C.
§§ 165(c)(3) & (h)(3)(B)).
These two types of losses include losses from theft.
By law, “theft” includes larceny, embezzlement, and robbery.
The amount of a loss is generally the fair market value of the property when it was stolen (26 C.F.R.
§§ 1.165-7 & 1.165-8).
There are several requirements to sustain a theft loss claim.
Generally, to do so, a taxpayer must establish that the loss was from an illegal taking of property done with criminal intent that was illegal under the law of the jurisdiction in which it occurred (Internal Revenue Service Revenue Ruling 2009-9).
HB5115 / File No.
664 16 HB5115 File No.
664 EFFECTIVE DATE:
January 1, 2027, and applicable to tax years beginning on or after that date.
COMMITTEE ACTION Finance, Revenue and Bonding Committee Joint Favorable Yea 34 Nay 20 (03/30/2026) HB5115 / File No.
664 17
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Action History

  1. FILE NO. 664

  2. HOUSE CALENDAR NUMBER 439

  3. FAV. RPT., TABLED FOR HOUSE CALENDAR

  4. RPTD. OUT OF LCO

  5. REFERRED TO Office of Legislative Research AND Office of Fiscal Analysis 04/15/26

  6. FILED WITH LCO

  7. Joint Favorable

  8. PUBLIC HEARING 0311

  9. REF. TO JOINT COMM. ON Finance, Revenue and Bonding

  10. DRAFTED BY COMMITTEE

  11. Vote to Draft

  12. REF. TO JOINT COMM. ON Finance, Revenue and Bonding

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 186 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (186)

186 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Frequently asked questions

Who sponsors HB 5115?
HB 5115 is sponsored by Jason Rojas (Democratic).
What is the current status of HB 5115?
This bill is in committee in the House. Introduced February 10, 2026. It must pass committee before a floor vote.
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