General Assembly Proposed Bill No. 50 February Session, 2016 LCO No. 778 *00778* Referred to Committee on FINANCE, REVENUE AND BONDING Introduced by: SEN. FRANTZ, 36th Dist. General Assembly Proposed Bill No. 50 February Session, 2016 LCO No. 778 *00778* Referred to Committee on FINANCE, REVENUE AND BONDING Introduced by: SEN. FRANTZ, 36th Dist. AN ACT REPEALING THE GIFT TAX. Be it enacted by the Senate and House of Representatives in General Assembly convened: That the general statutes be amended to repeal the gift tax. Statement of Purpose: To repeal the gift tax.