| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | LCO No. 2003 1 of 2 | |
| 4 | 4 | ||
| 5 | 5 | General Assembly Proposed Bill No. 6180 | |
| 6 | 6 | January Session, 2021 | |
| 7 | 7 | LCO No. 2003 | |
| 8 | 8 | ||
| 9 | 9 | ||
| 10 | 10 | Referred to Committee on FINANCE, REVENUE AND | |
| 11 | 11 | BONDING | |
| 12 | 12 | ||
| 13 | 13 | ||
| 14 | 14 | Introduced by: | |
| 15 | 15 | REP. SMITH, 48th Dist. | |
| 16 | 16 | SEN. OSTEN, 19th Dist. | |
| 17 | 17 | REP. NOLAN, 39th Dist. | |
| 18 | 18 | REP. CONLEY, 40th Dist. | |
| 19 | 19 | REP. RYAN, 139th Dist. | |
| 20 | 20 | SEN. FLEXER, 29th Dist. | |
| 21 | 21 | ||
| 22 | 22 | ||
| 23 | 23 | ||
| 24 | 24 | AN ACT CONCERNING THE INTEREST RATES FOR DELINQUENT | |
| 25 | 25 | STATE TAXES AND REPAYMENT OF OVERPAYMENTS. | |
| 26 | 26 | Be it enacted by the Senate and House of Representatives in General | |
| 27 | 27 | Assembly convened: | |
| 28 | 28 | ||
| 29 | 29 | That title 12 of the general statutes be amended to require the 1 | |
| 30 | 30 | Commissioner of Revenue Services to determine, for each fiscal year, the 2 | |
| 31 | 31 | rate of interest to be imposed on delinquent state taxes and the rate of 3 | |
| 32 | 32 | interest to be paid by the Department of Revenue Services on the 4 | |
| 33 | 33 | repayment of an overpayment of state taxes, as follows: (1) For 5 | |
| 34 | 34 | delinquent state taxes, the rate of interest shall be equal to the federal 6 | |
| 35 | 35 | funds rate in effect on the second Monday of June immediately 7 | |
| 36 | 36 | preceding the applicable fiscal year plus two percentage points; and (2) 8 | |
| 37 | 37 | for repayments of an overpayment of state taxes, the rate of interest shall 9 | |
| 38 | 38 | be equal to the federal funds rate in effect on the second Monday of June 10 | |
| 39 | 39 | immediately preceding the applicable fiscal year. 11 Proposed Bill No. 6180 | |
| 40 | 40 | ||
| 41 | 41 | ||
| 42 | 42 | LCO No. 2003 2 of 2 | |
| 43 | 43 | ||
| 44 | 44 | Statement of Purpose: | |
| 45 | 45 | To. require the Commissioner of Revenue Services to determine, for | |
| 46 | 46 | each fiscal year and in accordance with the federal funds rate, the rate | |
| 47 | 47 | of interest to be imposed on delinquent state taxes and to be paid by the | |
| 48 | 48 | Department of Revenue Services on the repayment of an overpayment | |
| 49 | 49 | of state taxes. |