General Assembly Raised Bill No. 6560
January Session, 2011 LCO No. 4397
*04397_______FIN*
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
(FIN)
General Assembly
Raised Bill No. 6560
January Session, 2011
LCO No. 4397
*04397_______FIN*
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
(FIN)
AN ACT CONCERNING DISCLOSURE OF TAX INCENTIVES PROVIDED TO BUSINESSES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective October 1, 2011) (a) For purposes of this section, "business" means any taxpayer subject to the tax imposed pursuant to chapter 207 or 208 of the general statutes, and any affected business entity, as defined in section 12-284b of the general statutes.
(b) Notwithstanding the provisions of section 12-15 of the general statutes, not later than October 15, 2011, the Commissioner of Revenue Services shall create and maintain a listing of tax deductions, credits or exemptions provided to, and claimed by, businesses. Such listing shall include, but need not be limited to, the name and address of each business claiming a tax deduction, credit or exemption under any provision of the general statutes, a listing, by business, of the specific tax deduction, credit or exemption claimed by each listed business and the amount of tax savings, by business, realized by each listed business due to such deduction, credit or exemption. Any information that is exempt from disclosure under section 1-210 of the general statutes shall not be included on such list.
(c) Such listing shall be public records and shall be available to the public in the manner provided in section 1-210 of the general statutes.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2011 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2011
New section
Statement of Purpose:
To provide information to the public regarding tax deductions, credits and exemptions provided to businesses.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]