General Assembly Proposed Bill No. 8 February Session, 2016 LCO No. 141 *00141* Referred to Committee on FINANCE, REVENUE AND BONDING Introduced by: SEN. FORMICA, 20th Dist. General Assembly Proposed Bill No. 8 February Session, 2016 LCO No. 141 *00141* Referred to Committee on FINANCE, REVENUE AND BONDING Introduced by: SEN. FORMICA, 20th Dist. AN ACT REPEALING THE BUSINESS ENTITY TAX. Be it enacted by the Senate and House of Representatives in General Assembly convened: That section 12-284b of the general statutes be repealed in order to eliminate the business entity tax. Statement of Purpose: To provide tax relief to state businesses by repealing the business entity tax.