| Old | New | Differences | |
|---|---|---|---|
| 1 | - | General Assembly Substitute Bill No. 1055 | |
| 2 | - | January Session, 2013 *_____SB01055FIN___040413____* | |
| 1 | + | General Assembly Raised Bill No. 1055 | |
| 2 | + | January Session, 2013 LCO No. 4092 | |
| 3 | + | *04092_______FIN* | |
| 4 | + | Referred to Committee on FINANCE, REVENUE AND BONDING | |
| 5 | + | Introduced by: | |
| 6 | + | (FIN) | |
| 3 | 7 | ||
| 4 | 8 | General Assembly | |
| 5 | 9 | ||
| 6 | - | ||
| 10 | + | Raised Bill No. 1055 | |
| 7 | 11 | ||
| 8 | 12 | January Session, 2013 | |
| 9 | 13 | ||
| 10 | - | ||
| 14 | + | LCO No. 4092 | |
| 11 | 15 | ||
| 12 | - | AN ACT CONCERNING THE ORDER OF TAX CREDITS FOR THE INSURANCE PREMIUMS TAX, A CONSOLIDATION OF TAX CREDITS FOR LAND DONATIONS, AMENDMENTS TO THE ENTERTAINMENT INDUSTRY INFRASTRUCTURE AND THE JOB EXPANSION TAX CREDITS, A STUDY OF THE INCOME TAX AND THE REPEAL OF CERTAIN TAX CREDITS. | |
| 16 | + | *04092_______FIN* | |
| 17 | + | ||
| 18 | + | Referred to Committee on FINANCE, REVENUE AND BONDING | |
| 19 | + | ||
| 20 | + | Introduced by: | |
| 21 | + | ||
| 22 | + | (FIN) | |
| 23 | + | ||
| 24 | + | AN ACT CONCERNING VARIOUS TAX CREDITS AND AN EXEMPTION TO, AND A STUDY OF, THE INCOME TAX. | |
| 13 | 25 | ||
| 14 | 26 | Be it enacted by the Senate and House of Representatives in General Assembly convened: | |
| 15 | 27 | ||
| 16 | 28 | Section 1. (NEW) (Effective from passage and applicable to calendar years commencing on and after January 1, 2013) (a) Whenever a company subject to tax under the provisions of chapter 207 of the general statutes is eligible to claim more than one tax credit, the credits shall be claimed for the calendar year in the following order: | |
| 17 | 29 | ||
| 18 | 30 | (1) Any credit that may be carried backward to a preceding calendar year or years shall first be claimed (A) with any credit carry-back that will expire first being claimed prior to any credit carry-back that will expire later or will not expire at all, and (B) if the credit carry-backs will expire at the same time, in the order in which the company may receive the maximum benefit; | |
| 19 | 31 | ||
| 20 | 32 | (2) Any credit that may not be carried backward to a preceding calendar year or years and that may not be carried forward to a succeeding calendar year or years shall next be claimed, in the order in which the company may receive the maximum benefit; and | |
| 21 | 33 | ||
| 22 | 34 | (3) Any credit that may be carried forward to a succeeding calendar year or years shall next be claimed (A) with any credit carry-forward that will expire first being claimed prior to any credit carry-forward that will expire later or will not expire at all, and (B) if the credit carry-forwards will expire at the same time, in the order in which the company may receive the maximum benefit. | |
| 23 | 35 | ||
| 24 | 36 | (b) In no event shall any credit be claimed more than once. | |
| 25 | 37 | ||
| 26 | 38 | Sec. 2. Section 12-217dd of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2013, and applicable to income years commencing on or after January 1, 2013): | |
| 27 | 39 | ||
| 28 | - | (a) For purposes of this section: [, "donation] (1) "Donation of open space land" means the value of any land or interest in land conveyed without financial consideration, or the value of any discount of the sale price in any sale of land or interest in land, to the state, a political subdivision of the state, a water company, as defined in section 25-32a, or to any nonprofit land conservation organization where such land is to be permanently preserved as protected open space or used as a public water supply source. | |
| 40 | + | (a) For purposes of this section: [,] | |
| 41 | + | ||
| 42 | + | (1) ["donation] "Donation of open space land" means the value of any land or interest in land conveyed without financial consideration, or the value of any discount of the sale price in any sale of land or interest in land, to the state, a political subdivision of the state, a water company, as defined in section 25-32a, or to any nonprofit land conservation organization where such land is to be permanently preserved as protected open space or used as a public water supply source. | |
| 29 | 43 | ||
| 30 | 44 | (2) "Donation of land for educational use" means the value of any land or interest in land conveyed without financial consideration, or the value of any discount of the sale price in any sale of land or interest in land, to any town, city or borough, whether consolidated or unconsolidated, or any school district or regional school district for educational use, as defined in section 16-43b. | |
| 31 | 45 | ||
| 32 | 46 | (b) There shall be allowed a credit for all taxpayers against the tax imposed under [section 12-217] this chapter, in an amount equal to fifty per cent of any donation of open space land [or as a public water supply source] and fifty per cent of any donation of land for educational use. For purposes of calculating the credit under this section, the amount of donation shall be based on the use value of the donated [open space] land and the amount received for such land. For purposes of this subsection, "use value" means the fair market value of land at its highest and best use, as determined by a certified real estate appraiser. | |
| 33 | 47 | ||
| 34 | 48 | (c) A credit for the donation of open space land that is allowed under this section [,] with respect to any taxable year commencing on or after January 1, 2000, but is not used by a taxpayer, may be carried forward to each of the successive income years until such credit is fully taken, [. In] but in no case shall a credit that is not used be carried forward for a period of more than twenty-five years. A credit for the donation of land for educational use that is allowed under this section with respect to any taxable year commencing on or after January 1, 2013, but is not used by a taxpayer, may be carried forward to each of the successive income years until such credit is fully taken, but in no case shall a credit that is not used be carried forward for a period of more than twenty-five years. | |
| 35 | 49 | ||
| 36 | 50 | Sec. 3. Section 12-217ff of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2013, and applicable to income years commencing on or after January 1, 2013): | |
| 37 | 51 | ||
| 38 | 52 | (a) For purposes of this section, "donation of land for educational use" means the value of any land or interest in land conveyed without financial consideration, or the value of any discount of the sale price in any sale of land or interest in land, to any municipality or political subdivision of the state for educational use, as defined in section 16-43b. | |
| 39 | 53 | ||
| 40 | 54 | (b) There shall be allowed a credit for all taxpayers against the tax imposed under section 12-217, in an amount equal to fifty per cent of any donation of land for educational use. For purposes of calculating the credit under this section the amount of donation shall be based on the difference between the use value of the donated land and the amount received for such land. For the purposes of this subsection, "use value" means a fair market value of land at its highest and best use, as determined by a certified real estate appraiser. | |
| 41 | 55 | ||
| 42 | 56 | (c) A credit that is allowed under this section, with respect to any taxable year commencing on or after January 1, 2004, but is not used by a taxpayer may be carried forward to each of the successive income years until such credit is fully taken. In no case shall a credit that is not used be carried forward for a period of more than fifteen years. | |
| 43 | 57 | ||
| 44 | 58 | (d) No tax credit shall be allowed under this section with respect to any donation of land for educational use made on or after January 1, 2013. | |
| 45 | 59 | ||
| 46 | - | Sec. 4. Subdivision (3) of subsection (b) of section 12-217kk of the general statutes is repealed and the following is substituted in lieu thereof (Effective | |
| 60 | + | Sec. 4. Subdivision (3) of subsection (b) of section 12-217kk of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2013, and applicable to income years commencing on or after January 1, 2013): | |
| 47 | 61 | ||
| 48 | 62 | (3) Any credit allowed pursuant to this section may be sold, assigned or otherwise transferred, in whole or in part, to one or more taxpayers, and such taxpayers may sell, assign or otherwise transfer, in whole or in part, such credit. [Any taxpayer holding such credit may claim such credit only for the income year in which expenditures were made by the taxpayer for the infrastructure project.] | |
| 49 | 63 | ||
| 50 | - | Sec. 5. Subsections (e) and (f) of section 12-217pp of the general statutes are repealed and the following is substituted in lieu thereof (Effective July 1, 2013): | |
| 64 | + | Sec. 5. Subsection (a) of section 12-217g of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2013): | |
| 65 | + | ||
| 66 | + | (a) There shall be allowed a credit for any taxpayer against the tax imposed under this chapter for any income year with respect to each apprenticeship in the manufacturing trades commenced by such taxpayer in such year under a qualified apprenticeship training program as described in this section, certified in accordance with regulations adopted by the Labor Commissioner and registered with the Connecticut State Apprenticeship Council established under section 31-22n, in an amount equal to four dollars per hour multiplied by the total number of hours worked during the income year by apprentices in the first half of a two-year term of apprenticeship and the first three-quarters of a four-year term of apprenticeship, provided the amount of credit allowed for any income year with respect to each such apprenticeship may not exceed (1) for income years commencing prior to January 1, 2014, four thousand eight hundred dollars or fifty per cent of actual wages paid in such income year to an apprentice in the first half of a two-year term of apprenticeship or in the first three-quarters of a four-year term of apprenticeship, whichever is less, and (2) for income years commencing on or after January 1, 2014, six thousand dollars or fifty per cent of actual wages paid in such income year to an apprentice in the first half of a two-year term of apprenticeship or in the first three-quarters of a four-year term of apprenticeship, whichever is less. | |
| 67 | + | ||
| 68 | + | Sec. 6. Subdivision (4) of subsection (d) of section 12-217n of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2013): | |
| 69 | + | ||
| 70 | + | (4) Credits that are allowed under this section but that exceed the amount permitted to be taken in an income year by reason of subdivision (1), (2) or (3) of this subsection, shall be carried forward to each of the successive income years until such credits, or applicable portion thereof, are fully taken, provided no such credits, or applicable portion thereof, that first become allowable in an income year commencing on or after January 1, 2014, shall be carried forward for a period of more than fifteen years. No credit permitted under this section shall be taken in any income year until the full amount of all allowable credits carried forward to such year from any prior income year, commencing with the earliest such prior year, that otherwise may be taken under subdivision (2) of this subsection in that income year, have been fully taken. | |
| 71 | + | ||
| 72 | + | Sec. 7. Subsections (e) and (f) of section 12-217pp of the general statutes are repealed and the following is substituted in lieu thereof (Effective July 1, 2013): | |
| 51 | 73 | ||
| 52 | 74 | (e) (1) To be eligible to claim the credit, a taxpayer shall apply to the commissioner in accordance with the provisions of this section. The application shall be on a form provided by the commissioner and shall contain sufficient information as required by the commissioner, including, but not limited to, the activities that the taxpayer primarily engages in, the North American Industrial Classification System code of the taxpayer, the current number of employees employed by the taxpayer as of the application date, and if applicable, the name and position or job title of the new, qualifying or veteran employee. The commissioner shall consult with the Labor Commissioner, the Commissioner of Rehabilitation Services or the Commissioner of Veterans' Affairs, Mental Health and Addiction Services or Developmental Services, as applicable, for any verification the commissioner deems necessary of unemployment compensation or vocational rehabilitation services received by a qualifying employee, or of service in the armed forces of the United States by a veteran employee. The commissioner may impose a fee for such application as the commissioner deems appropriate. | |
| 53 | 75 | ||
| 54 | 76 | (2) (A) Upon receipt of an application, the commissioner shall render a decision, in writing, on each completed application not later than thirty days after the date of its receipt by the commissioner. If the commissioner approves such application, the commissioner shall issue a certification letter to the taxpayer indicating that the credit will be available to be claimed by the taxpayer if the taxpayer and new, qualifying or veteran employee otherwise meets the requirements of this section. | |
| 55 | 77 | ||
| 56 | - | (B) On and after January 1, 2014, the commissioner shall | |
| 78 | + | (B) On and after January 1, 2014, the commissioner shall act upon such completed applications and issue such certification letters, as provided in subparagraph (A) of this subdivision, that pertain to qualifying or veteran employees who meet the requirements of this section, and with respect to whom credits pursuant to this section have previously been granted. The commissioner may, in his or her discretion, consider applications that pertain to new employees, with respect to whom credits pursuant to this section have previously been granted, when such applications are consistent with the economic development priorities of the state. | |
| 57 | 79 | ||
| 58 | - | (f) (1) The total amount of credits granted under this section and sections 12-217ii, 12-217nn and 12-217oo shall not exceed twenty million dollars in any one fiscal year | |
| 80 | + | (f) (1) The total amount of credits granted under this section and sections 12-217ii, 12-217nn and 12-217oo shall not exceed [twenty million dollars in any one fiscal year] forty million dollars over the duration of the job expansion tax credit program, including the two immediately succeeding income years after such credits are granted. | |
| 59 | 81 | ||
| 60 | 82 | (2) If a taxpayer was issued an eligibility certificate by the commissioner prior to January 1, 2012, to receive a jobs creation tax credit pursuant to section 12-217ii, the provisions of the tax credit program pursuant to said section 12-217ii shall apply to such taxpayer for the duration of the eligibility certificate. | |
| 61 | 83 | ||
| 62 | 84 | (3) If a taxpayer is issued a certification letter by the commissioner prior to January 1, 2013, to receive a qualified small business job creation tax credit pursuant to section 12-217nn, the provisions of the tax credit program pursuant to said section 12-217nn shall apply to such taxpayer for the duration of such certification. | |
| 63 | 85 | ||
| 64 | 86 | (4) If a taxpayer was issued a certification letter by the commissioner prior to January 1, 2012, to receive a vocational rehabilitation job creation tax credit pursuant to section 12-217oo, the provisions of the tax credit program pursuant to said section 12-217oo shall apply to such taxpayer for the duration of such certification. | |
| 65 | 87 | ||
| 66 | - | Sec. | |
| 88 | + | Sec. 8. (NEW) (Effective from passage and applicable to taxable years commencing on or after January 1, 2013) (a) For purposes of this section, "first responder" means any peace officer or firefighter, as those terms are defined in section 53a-3 of the general statutes, or any ambulance driver, emergency medical responder, emergency medical technician or paramedic, as those terms are defined in section 19a-175 of the general statutes. | |
| 67 | 89 | ||
| 68 | - | (b) | |
| 90 | + | (b) Any resident of this state or part-year resident of this state shall not be subject to tax under chapter 229 of the general statutes, when the spouse of such resident or part-year resident was a first responder who dies while in the performance of his or her duties as a first responder. The exemption provided by this section shall be available only for the taxable year in which such first responder dies, and shall apply only to the tax liability incurred during such year. | |
| 69 | 91 | ||
| 70 | - | Sec. 7. Subsection (h) of section 12-217n of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2013): | |
| 92 | + | (c) The Commissioner of Revenue Services shall make available a form allowing a resident or part-year resident to apply for the exemption provided by this section, and to claim as a refund of taxes any amount of estimated taxes or withholding taxes paid by or on behalf of such resident or part-year resident. Said commissioner may request any supporting documentation necessary to process such exemption and refund. | |
| 93 | + | ||
| 94 | + | Sec. 9. (Effective from passage) (a) The Commissioner of Revenue Services shall conduct a study of the personal income tax structure to consider the impact upon taxpayers, by federal tax filing status, of the various tax rates and credits established pursuant to chapter 229 of the general statutes. Such study shall include (1) an analysis of the taxes and credits based on adjusted gross income imposed on each group of taxpayers at the same or equivalent income level, and whether such taxes and credits are the same or equivalent, (2) a comparison of the effect of basing the state personal income tax on federal adjusted gross income versus federal net income, (3) consideration of how such tax rates and credits might be restructured to require all taxpayers to pay an equivalent amount while maintain the current state revenue levels. | |
| 95 | + | ||
| 96 | + | (b) On or before January 15, 2014, the commissioner shall report, in accordance with the provisions of section 11-4a of the general statutes, to the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding on the results of the study required pursuant to subsection (a) of this section. Such report shall include recommendations for legislative changes, if such are found to be necessary to ensure an equitable personal income tax structure. | |
| 97 | + | ||
| 98 | + | Sec. 10. Subsection (h) of section 12-217n of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2013): | |
| 71 | 99 | ||
| 72 | 100 | (h) Any taxpayer, or in the case of a combined return, any combined group of taxpayers, that claims a credit under section 12-217j for any income year shall reduce the amount of research and development expenses that otherwise may be taken into account in computing the allowable credit under subsection (c) of this section for such income year by the amount of excess research and experimental expenditures, as computed under said section 12-217j, for which the credit thereunder is given. [Any taxpayer, or in the case of a combined return, any combined group of taxpayers, that claims a credit under section 12-217l for any income year shall reduce the amount of research and development expenses that otherwise may be taken into account in computing the allowable credit under subsection (c) of this section for such income year by the amount of excess grants to institutions of higher education in Connecticut, as computed under said section 12-217l, for which the credit thereunder is given.] | |
| 73 | 101 | ||
| 74 | - | Sec. | |
| 102 | + | Sec. 11. Subsection (a) of section 16-245l of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2013): | |
| 75 | 103 | ||
| 76 | 104 | (a) The Public Utilities Regulatory Authority shall establish and each electric distribution company shall collect a systems benefits charge to be imposed against all end use customers of each electric distribution company beginning January 1, 2000. The authority shall hold a hearing that shall be conducted as a contested case in accordance with chapter 54 to establish the amount of the systems benefits charge. The authority may revise the systems benefits charge or any element of said charge as the need arises. The systems benefits charge shall be used to fund (1) the expenses of the public education outreach program developed under subsections (a), (f) and (g) of section 16-244d other than expenses for authority staff, (2) the reasonable and proper expenses of the education outreach consultant pursuant to subsection (d) of section 16-244d, (3) the cost of hardship protection measures under sections 16-262c and 16-262d and other hardship protections, including, but not limited to, electric service bill payment programs, funding and technical support for energy assistance, fuel bank and weatherization programs and weatherization services, (4) the payment program to offset tax losses described in section 12-94d, (5) any sums paid to a resource recovery authority pursuant to subsection (b) of section 16-243e, (6) low income conservation programs approved by the Public Utilities Regulatory Authority, (7) displaced worker protection costs, (8) unfunded storage and disposal costs for spent nuclear fuel generated before January 1, 2000, approved by the appropriate regulatory agencies, (9) postretirement safe shutdown and site protection costs that are incurred in preparation for decommissioning, (10) decommissioning fund contributions, (11) the costs of temporary electric generation facilities incurred pursuant to section 16-19ss, (12) operating expenses for the Connecticut Energy Advisory Board, (13) costs associated with the Connecticut electric efficiency partner program established pursuant to section 16-243v, (14) reinvestments and investments in energy efficiency programs and technologies pursuant to section 16a-38l, costs associated with the electricity conservation incentive program established pursuant to section 119 of public act 07-242, and (15) legal, appraisal and purchase costs of a conservation or land use restriction and other related costs as the authority in its discretion deems appropriate, incurred by a municipality on or before January 1, 2000, to ensure the environmental, recreational and scenic preservation of any reservoir located within this state created by a pump storage hydroelectric generating facility. As used in this subsection, "displaced worker protection costs" means the reasonable costs incurred, prior to January 1, 2008, (A) by an electric supplier, exempt wholesale generator, electric company, an operator of a nuclear power generating facility in this state or a generation entity or affiliate arising from the dislocation of any employee other than an officer, provided such dislocation is a result of (i) restructuring of the electric generation market and such dislocation occurs on or after July 1, 1998, or (ii) the closing of a Title IV source or an exempt wholesale generator, as defined in 15 USC 79z-5a, on or after January 1, 2004, as a result of such source's failure to meet requirements imposed as a result of sections 22a-197 and 22a-198 and this section or those Regulations of Connecticut State Agencies adopted by the Department of Energy and Environmental Protection, as amended from time to time, in accordance with Executive Order Number 19, issued on May 17, 2000, and provided further such costs result from either the execution of agreements reached through collective bargaining for union employees or from the company's or entity's or affiliate's programs and policies for nonunion employees, and (B) by an electric distribution company or an exempt wholesale generator arising from the retraining of a former employee of an unaffiliated exempt wholesale generator, which employee was involuntarily dislocated on or after January 1, 2004, from such wholesale generator, except for cause. "Displaced worker protection costs" includes costs incurred or projected for severance, retraining, early retirement, outplacement, coverage for surviving spouse insurance benefits and related expenses. ["Displaced worker protection costs" does not include those costs included in determining a tax credit pursuant to section 12-217bb.] | |
| 77 | 105 | ||
| 78 | - | Sec. | |
| 106 | + | Sec. 12. Sections 12-217l, 12-217y, 12-217bb and 12-217hh of the general statutes are repealed. (Effective July 1, 2013) | |
| 79 | 107 | ||
| 80 | 108 | ||
| 81 | 109 | ||
| 82 | 110 | ||
| 83 | 111 | This act shall take effect as follows and shall amend the following sections: | |
| 84 | 112 | Section 1 from passage and applicable to calendar years commencing on and after January 1, 2013 New section | |
| 85 | 113 | Sec. 2 July 1, 2013, and applicable to income years commencing on or after January 1, 2013 12-217dd | |
| 86 | 114 | Sec. 3 July 1, 2013, and applicable to income years commencing on or after January 1, 2013 12-217ff | |
| 87 | - | Sec. 4 from passage 12-217kk(b)(3) | |
| 88 | - | Sec. 5 July 1, 2013 12-217pp(e) and (f) | |
| 89 | - | Sec. 6 from passage New section | |
| 90 | - | Sec. 7 July 1, 2013 12-217n(h) | |
| 91 | - | Sec. 8 July 1, 2013 16-245l(a) | |
| 92 | - | Sec. 9 July 1, 2013 Repealer section | |
| 115 | + | Sec. 4 July 1, 2013, and applicable to income years commencing on or after January 1, 2013 12-217kk(b)(3) | |
| 116 | + | Sec. 5 July 1, 2013 12-217g(a) | |
| 117 | + | Sec. 6 July 1, 2013 12-217n(d)(4) | |
| 118 | + | Sec. 7 July 1, 2013 12-217pp(e) and (f) | |
| 119 | + | Sec. 8 from passage and applicable to taxable years commencing on or after January 1, 2013 New section | |
| 120 | + | Sec. 9 from passage New section | |
| 121 | + | Sec. 10 July 1, 2013 12-217n(h) | |
| 122 | + | Sec. 11 July 1, 2013 16-245l(a) | |
| 123 | + | Sec. 12 July 1, 2013 Repealer section | |
| 93 | 124 | ||
| 94 | 125 | This act shall take effect as follows and shall amend the following sections: | |
| 95 | 126 | ||
| 96 | 127 | Section 1 | |
| 97 | 128 | ||
| 98 | 129 | from passage and applicable to calendar years commencing on and after January 1, 2013 | |
| 99 | 130 | ||
| 100 | 131 | New section | |
| 101 | 132 | ||
| 102 | 133 | Sec. 2 | |
| 103 | 134 | ||
| 104 | 135 | July 1, 2013, and applicable to income years commencing on or after January 1, 2013 | |
| 105 | 136 | ||
| 106 | 137 | 12-217dd | |
| 107 | 138 | ||
| 108 | 139 | Sec. 3 | |
| 109 | 140 | ||
| 110 | 141 | July 1, 2013, and applicable to income years commencing on or after January 1, 2013 | |
| 111 | 142 | ||
| 112 | 143 | 12-217ff | |
| 113 | 144 | ||
| 114 | 145 | Sec. 4 | |
| 115 | 146 | ||
| 116 | - | ||
| 147 | + | July 1, 2013, and applicable to income years commencing on or after January 1, 2013 | |
| 117 | 148 | ||
| 118 | 149 | 12-217kk(b)(3) | |
| 119 | 150 | ||
| 120 | 151 | Sec. 5 | |
| 121 | 152 | ||
| 122 | 153 | July 1, 2013 | |
| 123 | 154 | ||
| 155 | + | 12-217g(a) | |
| 156 | + | ||
| 157 | + | Sec. 6 | |
| 158 | + | ||
| 159 | + | July 1, 2013 | |
| 160 | + | ||
| 161 | + | 12-217n(d)(4) | |
| 162 | + | ||
| 163 | + | Sec. 7 | |
| 164 | + | ||
| 165 | + | July 1, 2013 | |
| 166 | + | ||
| 124 | 167 | 12-217pp(e) and (f) | |
| 125 | 168 | ||
| 126 | - | Sec. 6 | |
| 169 | + | Sec. 8 | |
| 170 | + | ||
| 171 | + | from passage and applicable to taxable years commencing on or after January 1, 2013 | |
| 172 | + | ||
| 173 | + | New section | |
| 174 | + | ||
| 175 | + | Sec. 9 | |
| 127 | 176 | ||
| 128 | 177 | from passage | |
| 129 | 178 | ||
| 130 | 179 | New section | |
| 131 | 180 | ||
| 132 | - | Sec. | |
| 181 | + | Sec. 10 | |
| 133 | 182 | ||
| 134 | 183 | July 1, 2013 | |
| 135 | 184 | ||
| 136 | 185 | 12-217n(h) | |
| 137 | 186 | ||
| 138 | - | Sec. | |
| 187 | + | Sec. 11 | |
| 139 | 188 | ||
| 140 | 189 | July 1, 2013 | |
| 141 | 190 | ||
| 142 | 191 | 16-245l(a) | |
| 143 | 192 | ||
| 144 | - | Sec. | |
| 193 | + | Sec. 12 | |
| 145 | 194 | ||
| 146 | 195 | July 1, 2013 | |
| 147 | 196 | ||
| 148 | 197 | Repealer section | |
| 149 | 198 | ||
| 199 | + | Statement of Purpose: | |
| 150 | 200 | ||
| 201 | + | To provide for the ordering of tax credits for purposes of the insurance premiums tax; to consolidate two credits, section 12-217ff, donation of land for educational use, and section 12-217dd, donation of open space land; to make the period in which an assignee may claim the film infrastructure credit consistent with the allowable periods under the film production and digital animation credits; to increase the amount of the apprenticeship credit; to provide a fifteen-year carryforward for an R & D credit; to make changes to the JET credit; to permit an exemption from personal income tax in certain circumstances; and to require a study of whether all taxpayers are treated equitably under the personal income tax. | |
| 151 | 202 | ||
| 152 | - | FIN Joint Favorable Subst. | |
| 153 | - | ||
| 154 | - | FIN | |
| 155 | - | ||
| 156 | - | Joint Favorable Subst. | |
| 203 | + | [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.] |