LCO No. 2003 1 of 2
General Assembly Proposed Bill No. 6180
January Session, 2021
LCO No. 2003
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
REP. SMITH, 48th Dist.
SEN. OSTEN, 19th Dist.
REP. NOLAN, 39th Dist.
REP. CONLEY, 40th Dist.
REP. RYAN, 139th Dist.
SEN. FLEXER, 29th Dist.
AN ACT CONCERNING THE INTEREST RATES FOR DELINQUENT
STATE TAXES AND REPAYMENT OF OVERPAYMENTS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That title 12 of the general statutes be amended to require the 1
Commissioner of Revenue Services to determine, for each fiscal year, the 2
rate of interest to be imposed on delinquent state taxes and the rate of 3
interest to be paid by the Department of Revenue Services on the 4
repayment of an overpayment of state taxes, as follows: (1) For 5
delinquent state taxes, the rate of interest shall be equal to the federal 6
funds rate in effect on the second Monday of June immediately 7
preceding the applicable fiscal year plus two percentage points; and (2) 8
for repayments of an overpayment of state taxes, the rate of interest shall 9
be equal to the federal funds rate in effect on the second Monday of June 10
immediately preceding the applicable fiscal year. 11 Proposed Bill No. 6180
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Statement of Purpose:
To. require the Commissioner of Revenue Services to determine, for
each fiscal year and in accordance with the federal funds rate, the rate
of interest to be imposed on delinquent state taxes and to be paid by the
Department of Revenue Services on the repayment of an overpayment
of state taxes.