| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | LCO No. 2371 1 of 1 | |
| 4 | 4 | ||
| 5 | 5 | General Assembly Proposed Bill No. 746 | |
| 6 | 6 | January Session, 2021 | |
| 7 | 7 | LCO No. 2371 | |
| 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 | SEN. NEEDLEMAN, 33rd Dist. | |
| 16 | 16 | ||
| 17 | 17 | ||
| 18 | 18 | ||
| 19 | 19 | AN ACT INCREASING THE AMOUNT OF THE CREDIT ALLOWED | |
| 20 | 20 | AGAINST THE AFFECTED BUSINESS ENTITY TAX AND REQUIRING | |
| 21 | 21 | THE PAYMENT OF REFUNDS TO AFFECTED BUSINESS ENTITIES. | |
| 22 | 22 | Be it enacted by the Senate and House of Representatives in General | |
| 23 | 23 | Assembly convened: | |
| 24 | 24 | ||
| 25 | 25 | That section 12-699 of the general statutes be amended to (1) increase 1 | |
| 26 | 26 | the amount of the credit a taxpayer may claim against the affected 2 | |
| 27 | 27 | business entity tax to ninety-three and one-hundredths per cent, and (2) 3 | |
| 28 | 28 | require the Department of Revenue Services to refund, for the taxable 4 | |
| 29 | 29 | years commencing January 1, 2019, and January 1, 2020, the difference 5 | |
| 30 | 30 | between the amount of the credit that an affected business entity could 6 | |
| 31 | 31 | have claimed at the rate in effect prior to January 1, 2019, and the 7 | |
| 32 | 32 | amount of the credit that such entity claimed at the rate currently in 8 | |
| 33 | 33 | effect. 9 | |
| 34 | 34 | Statement of Purpose: | |
| 35 | 35 | To increase the amount of the credit allowed against the affected | |
| 36 | 36 | business entity tax and to require the Department of Revenue Services | |
| 37 | 37 | to pay refunds to affected business entities. |