General Assembly Proposed Bill No. 5
February Session, 2012 LCO No. 29
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. SUZIO, 13th Dist.
General Assembly
Proposed Bill No. 5
February Session, 2012
LCO No. 29
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. SUZIO, 13th Dist.
AN ACT CONCERNING A CAP ON THE PETROLEUM GROSS EARNINGS TAX.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 227 of the general statutes be amended to place a cap on the petroleum gross earnings tax.
Statement of Purpose:
To prevent the state from receiving a windfall in tax revenue when gas prices rise, to reduce taxes and to slow the increase in gas prices.