Connecticut 2024 Regular Session

Connecticut Senate Bill SB00016 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2
3	3	LCO No. 469 1 of 40
4	4
5	5	General Assembly Governor's Bill No. 16
6	6	February Session, 2024
7	7	LCO No. 469
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	Request of the Governor Pursuant
16	16	to Joint Rule 9
17	17
18	18
19	19
20	20
21	21
22	22	AN ACT CONCERNING REVENUE ITEMS TO IMPLEMENT THE
23	23	GOVERNOR'S BUDGET.
24	24
25	25	Be it enacted by the Senate and House of Representatives in General
26	26	Assembly convened:
27	27
28	28	Section 1. Section 20-93 of the general statutes is repealed and the 1
29	29	following is substituted in lieu thereof (Effective July 1, 2024): 2
30	30	Any person who shows to the satisfaction of the department that he 3
31	31	or she holds a degree, diploma or certificate from an accredited 4
32	32	institution evidencing satisfactory completion of a nursing program 5
33	33	approved by said board with the consent of the Commissioner of Public 6
34	34	Health shall be eligible for examination for licensure as a registered 7
35	35	nurse, [upon payment of a fee of one hundred eighty dollars,] the 8
36	36	subjects of which examination shall be determined by said department 9
37	37	with the advice and consent of the board. If such applicant passes such 10
38	38	examination said department shall issue to such applicant a license to 11
39	39	practice nursing in this state. 12 Governor's Bill No. 16
40	40
41	41
42	42
43	43	LCO No. 469 2 of 40
44	44
45	45	Sec. 2. Subsection (a) of section 20-94 of the general statutes is 13
46	46	repealed and the following is substituted in lieu thereof (Effective July 1, 14
47	47	2024): 15
48	48	(a) [(1)] Any registered nurse who is licensed at the time of 16
49	49	application in another state of the United States, the District of Columbia 17
50	50	or a commonwealth or territory subject to the laws of the United States, 18
51	51	[which] that has licensure requirements that are substantially similar to 19
52	52	or higher than those of this state shall be eligible for licensure in this 20
53	53	state and entitled to a license without examination. [upon payment of a 21
54	54	fee of one hundred eighty dollars.] No license shall be issued under this 22
55	55	section to any applicant against whom professional disciplinary action 23
56	56	is pending or who is the subject of an unresolved complaint. The 24
57	57	department shall inform the board annually of the number of 25
58	58	applications it receives for licenses under this section. 26
59	59	[(2) For the period from October 1, 2004, to one year after said date, 27
60	60	any advanced practice registered nurse licensed pursuant to section 20-28
61	61	94a whose license as a registered nurse pursuant to section 20-93 has 29
62	62	become void pursuant to section 19a-88, shall be eligible for licensure 30
63	63	and entitled to a license without examination upon receipt of a 31
64	64	completed application form and payment of a fee of one hundred eighty 32
65	65	dollars.] 33
66	66	Sec. 3. Section 20-94a of the 2024 supplement to the general statutes 34
67	67	is repealed and the following is substituted in lieu thereof (Effective July 35
68	68	1, 2024): 36
69	69	(a) The Department of Public Health may issue an advanced practice 37
70	70	registered nurse license to a person seeking to perform the activities 38
71	71	described in subsection (b) of section 20-87a [, upon receipt of a fee of 39
72	72	two hundred dollars,] to an applicant who: (1) Maintains a license as a 40
73	73	registered nurse in this state, as provided by section 20-93, as amended 41
74	74	by this act, or 20-94, as amended by this act; (2) holds and maintains 42
75	75	current certification as a nurse practitioner, a clinical nurse specialist or 43
76	76	a nurse anesthetist from one of the following national certifying bodies 44 Governor's Bill No. 16
77	77
78	78
79	79
80	80	LCO No. 469 3 of 40
81	81
82	82	that certify nurses in advanced practice: The American Nurses' 45
83	83	Association, the Nurses' Association of the American College of 46
84	84	Obstetricians and Gynecologists Certification Corporation, the National 47
85	85	Board of Pediatric Nurse Practitioners and Associates or the American 48
86	86	Association of Nurse Anesthetists, their successors or other appropriate 49
87	87	national certifying bodies approved by the Board of Examiners for 50
88	88	Nursing; (3) has completed thirty hours of education in pharmacology 51
89	89	for advanced nursing practice; and (4) (A) holds a graduate degree in 52
90	90	nursing or in a related field recognized for certification as either a nurse 53
91	91	practitioner, a clinical nurse specialist, or a nurse anesthetist by one of 54
92	92	the foregoing certifying bodies, or (B) (i) on or before December 31, 2004, 55
93	93	completed an advanced nurse practitioner program that a national 56
94	94	certifying body identified in subdivision (2) of subsection (a) of this 57
95	95	section recognized for certification of a nurse practitioner, clinical nurse 58
96	96	specialist, or nurse anesthetist, and (ii) at the time of application, holds 59
97	97	a current license as an advanced practice registered nurse in another 60
98	98	state that requires a master's degree in nursing or a related field for such 61
99	99	licensure. No license shall be issued under this section to any applicant 62
100	100	against whom professional disciplinary action is pending or who is the 63
101	101	subject of an unresolved complaint. 64
102	102	(b) During the period commencing January 1, 1990, and ending 65
103	103	January 1, 1992, the Department of Public Health may in its discretion 66
104	104	allow a registered nurse, who has been practicing as an advanced 67
105	105	practice registered nurse in a nurse practitioner role and who is unable 68
106	106	to obtain certification as a nurse practitioner by one of the national 69
107	107	certifying bodies specified in subsection (a) of this section, to be licensed 70
108	108	as an advanced practice registered nurse, provided [the individual] such 71
109	109	person: 72
110	110	(1) Holds a current Connecticut license as a registered nurse pursuant 73
111	111	to this chapter; 74
112	112	(2) Presents the department with documentation of the reasons one 75
113	113	of such national certifying bodies will not certify him as a nurse 76
114	114	practitioner; 77 Governor's Bill No. 16
115	115
116	116
117	117
118	118	LCO No. 469 4 of 40
119	119
120	120	(3) Has been in active practice as a nurse practitioner for at least five 78
121	121	years in a facility licensed pursuant to section 19a-491; 79
122	122	(4) Provides the department with documentation of his preparation 80
123	123	as a nurse practitioner; 81
124	124	(5) Provides the department with evidence of at least seventy-five 82
125	125	contact hours, or its equivalent, of continuing education related to his 83
126	126	nurse practitioner specialty in the preceding five calendar years; 84
127	127	(6) Has completed thirty hours of education in pharmacology for 85
128	128	advanced nursing practice; 86
129	129	(7) Has his employer provide the department with a description of 87
130	130	his practice setting, job description, and a plan for supervision by a 88
131	131	licensed physician; and 89
132	132	(8) Notifies the department of each change of employment to a new 90
133	133	setting where he will function as an advanced practice registered nurse 91
134	134	and will be exercising prescriptive and dispensing privileges. 92
135	135	(c) Any person who obtains a license pursuant to subsection (b) of 93
136	136	this section shall be eligible to renew such license annually provided he 94
137	137	presents the department with evidence that he received at least fifteen 95
138	138	contact hours, or its equivalent, eight hours of which shall be in 96
139	139	pharmacology, of continuing education related to his nurse practitioner 97
140	140	specialty in the preceding licensure year. If [an individual] a person 98
141	141	licensed pursuant to subsection (b) of this subsection becomes eligible 99
142	142	at any time for certification as a nurse practitioner by one of the national 100
143	143	certifying bodies specified in subsection (a) of this section, [the 101
144	144	individual] such person shall apply for certification, and upon 102
145	145	certification so notify the department, and apply to be licensed as an 103
146	146	advanced practice registered nurse in accordance with subsection (a) of 104
147	147	this section. 105
148	148	(d) On and after October 1, 2023, a person [,] who is not eligible for 106
149	149	licensure under subsection (a) of this section [,] may apply for licensure 107 Governor's Bill No. 16
150	150
151	151
152	152
153	153	LCO No. 469 5 of 40
154	154
155	155	by endorsement as an advanced practice registered nurse. Such 108
156	156	applicant shall [(1)] present evidence satisfactory to the Commissioner 109
157	157	of Public Health that the applicant has acquired three years of 110
158	158	experience as an advanced practice registered nurse, or as a person 111
159	159	entitled to perform similar services under a different designation, in 112
160	160	another state or jurisdiction that has requirements for practicing in such 113
161	161	capacity that are substantially similar to, or higher than, those of this 114
162	162	state and that there are no disciplinary actions or unresolved complaints 115
163	163	pending against such person. [, and (2) pay a fee of two hundred dollars 116
164	164	to the commissioner.] 117
165	165	(e) A person who has received a license pursuant to this section shall 118
166	166	be known as an "Advanced Practice Registered Nurse" and no other 119
167	167	person shall assume such title or use the letters or figures [which] that 120
168	168	indicate that the person using the same is a licensed advanced practice 121
169	169	registered nurse. 122
170	170	Sec. 4. Section 20-96 of the general statutes is repealed and the 123
171	171	following is substituted in lieu thereof (Effective July 1, 2024): 124
172	172	Any person who holds a certificate from a nursing program 125
173	173	approved by said board with the consent of the Commissioner of Public 126
174	174	Health, which program consists of not less than twelve months' 127
175	175	instruction in the care of the sick as prescribed by said board, or its 128
176	176	equivalent as determined by said board, shall be eligible for 129
177	177	examination for licensure as a licensed practical nurse. [upon payment 130
178	178	of a fee of one hundred fifty dollars.] Such examination shall include 131
179	179	such subjects as the department, with the advice and consent of the 132
180	180	board, determines. If such applicant passes such examination said 133
181	181	department shall issue to such applicant a license to practice as a 134
182	182	licensed practical nurse in this state. 135
183	183	Sec. 5. Subsection (a) of section 20-97 of the general statutes is 136
184	184	repealed and the following is substituted in lieu thereof (Effective July 1, 137
185	185	2024): 138
186	186	(a) Any person who is licensed at the time of application as a licensed 139 Governor's Bill No. 16
187	187
188	188
189	189
190	190	LCO No. 469 6 of 40
191	191
192	192	practical nurse, or as a person entitled to perform similar services under 140
193	193	a different designation, in another state of the United States, the District 141
194	194	of Columbia or a commonwealth or territory subject to the laws of the 142
195	195	United States whose requirements for licensure in such capacity are 143
196	196	equivalent to or higher than those of this state, shall be eligible for 144
197	197	licensure in this state and entitled to a license without examination. 145
198	198	[upon payment of a fee of one hundred fifty dollars.] If such other state, 146
199	199	district, commonwealth or territory issues licenses based on completion 147
200	200	of a practical nursing education program that is shorter in length than 148
201	201	the minimum length for this state's practical nursing education 149
202	202	programs or based on partial completion of a registered nursing 150
203	203	education program, an applicant for licensure under this section may 151
204	204	substitute licensed clinical work experience that: (1) Is performed under 152
205	205	the supervision of a licensed registered nurse; (2) occurs following the 153
206	206	completion of a nursing education program; and (3) when combined 154
207	207	with the applicant's educational program, equals or exceeds the 155
208	208	minimum program length for licensed practical nursing education 156
209	209	programs approved in this state. No license shall be issued under this 157
210	210	section to any applicant against whom professional disciplinary action 158
211	211	is pending or who is the subject of an unresolved complaint. The 159
212	212	department shall inform the board annually of the number of 160
213	213	applications it receives for licenses under this section. 161
214	214	Sec. 6. Subdivision (1) of subsection (b) of section 19a-87b of the 2024 162
215	215	supplement to the general statutes is repealed and the following is 163
216	216	substituted in lieu thereof (Effective July 1, 2024): 164
217	217	(b) (1) No person shall act as an assistant or substitute staff member 165
218	218	to a person or entity maintaining a family child care home, as defined in 166
219	219	section 19a-77, without an approval issued by the commissioner. Any 167
220	220	person seeking to act as an assistant or substitute staff member in a 168
221	221	family child care home shall submit an application for such approval to 169
222	222	the office. Applications for approval shall [: (A) Be] be made to the 170
223	223	commissioner on forms provided by the office [, (B)] and contain the 171
224	224	information required by regulations adopted under this section. [, and 172
225	225	(C) be accompanied by a fee of fifteen dollars.] The approval application 173 Governor's Bill No. 16
226	226
227	227
228	228
229	229	LCO No. 469 7 of 40
230	230
231	231	forms shall contain a notice that false statements made in such form are 174
232	232	punishable in accordance with section 53a-157b. 175
233	233	Sec. 7. Subsections (d) and (e) of section 19a-87b of the 2024 176
234	234	supplement to the general statutes are repealed and the following is 177
235	235	substituted in lieu thereof (Effective July 1, 2024): 178
236	236	(d) [An] No fee shall be required for an application for initial 179
237	237	licensure pursuant to this section [shall be accompanied by a fee of forty 180
238	238	dollars] and such license shall be issued for a term of four years. An 181
239	239	application for renewal of a license issued pursuant to this section shall 182
240	240	be accompanied by a fee of forty dollars and a certification from the 183
241	241	licensee that any child enrolled in the family child care home has 184
242	242	received age-appropriate immunizations in accordance with 185
243	243	regulations adopted pursuant to subsection (f) of this section. A license 186
244	244	issued pursuant to this section shall be renewed for a term of four years. 187
245	245	In the case of an applicant submitting an application for renewal of a 188
246	246	license that has expired, and who has ceased operations of a family child 189
247	247	care home due to such expired license, the commissioner may renew 190
248	248	such expired license within thirty days of the date of such expiration 191
249	249	upon receipt of an application for renewal that is accompanied by such 192
250	250	fee and such certification. 193
251	251	(e) [An] No fee shall be required for an application for initial staff 194
252	252	approval. [or] An application for renewal of staff approval shall be 195
253	253	accompanied by a fee of fifteen dollars. Such approvals shall be issued 196
254	254	or renewed for a term of two years. 197
255	255	Sec. 8. Subsection (l) of section 10-145b of the general statutes is 198
256	256	repealed and the following is substituted in lieu thereof (Effective July 1, 199
257	257	2024): 200
258	258	(l) Upon application to the State Board of Education for the issuance 201
259	259	of any certificate in accordance with this section and section 10-145d, 202
260	260	there shall be paid to the board by or on behalf of the applicant a 203
261	261	nonreturnable fee of [two hundred dollars in the case of an applicant for 204
262	262	an initial educator certificate,] two hundred fifty dollars in the case of 205 Governor's Bill No. 16
263	263
264	264
265	265
266	266	LCO No. 469 8 of 40
267	267
268	268	an applicant for a provisional educator certificate and three hundred 206
269	269	seventy-five dollars in the case of an applicant for a professional 207
270	270	educator certificate, except that such applicants for certificates for 208
271	271	teaching adult education programs mandated under subparagraph (A) 209
272	272	of subsection (a) of section 10-69 shall pay a fee of one hundred dollars; 210
273	273	[persons] an applicant for an initial educator certificate shall not be 211
274	274	required to pay any such fees. Persons eligible for a certificate or 212
275	275	endorsement for which the fee is less than that applied for shall receive 213
276	276	an appropriate refund; persons not eligible for any certificate shall 214
277	277	receive a refund of the application fee minus fifty dollars; and persons 215
278	278	holding standard or permanent certificates on July 1, 1989, who apply 216
279	279	for professional certificates to replace the standard or permanent 217
280	280	certificates, shall not be required to pay such a fee. Upon application to 218
281	281	the State Board of Education for the issuance of a subject area 219
282	282	endorsement there shall be paid to the board by or on behalf of such 220
283	283	applicant a nonreturnable fee of one hundred dollars. With each request 221
284	284	for a duplicate copy of any such certificate or endorsement there shall 222
285	285	be paid to the board a nonreturnable fee of fifty dollars. 223
286	286	Sec. 9. Section 3-115b of the 2024 supplement to the general statutes 224
287	287	is repealed and the following is substituted in lieu thereof (Effective from 225
288	288	passage): 226
289	289	(a) Commencing with the fiscal year ending June 30, 2014, the 227
290	290	Comptroller, in the Comptroller's sole discretion, may initiate a process 228
291	291	intended to result in the implementation of the use of generally accepted 229
292	292	accounting principles, as prescribed by the Governmental Accounting 230
293	293	Standards Board, with respect to the preparation and maintenance of 231
294	294	the annual financial statements of the state pursuant to section 3-115. 232
295	295	(b) Commencing with the fiscal year ending June 30, 2014, the 233
296	296	Secretary of the Office of Policy and Management shall initiate a process 234
297	297	intended to result in the implementation of generally accepted 235
298	298	accounting principles, as prescribed by the Governmental Accounting 236
299	299	Standards Board, with respect to the preparation of the biennial budget 237
300	300	of the state. 238 Governor's Bill No. 16
301	301
302	302
303	303
304	304	LCO No. 469 9 of 40
305	305
306	306	[(c) The Comptroller shall establish an opening combined balance 239
307	307	sheet for each appropriated fund as of July 1, 2013, on the basis of 240
308	308	generally accepted accounting principles. The accumulated deficit in the 241
309	309	General Fund on June 30, 2013, as determined on the basis of generally 242
310	310	accepted accounting principles and identified in the annual 243
311	311	comprehensive financial report of the state as the unassigned negative 244
312	312	balance of the General Fund on said date, reduced by any funds 245
313	313	deposited in the General Fund from other resources for the purpose of 246
314	314	reducing the negative unassigned balance of the fund, shall be 247
315	315	amortized in each fiscal year of each biennial budget, commencing with 248
316	316	the fiscal year ending June 30, 2016, and for the succeeding twelve fiscal 249
317	317	years. The Comptroller shall, to the extent necessary to report the fiscal 250
318	318	position of the state in accordance with generally accepted accounting 251
319	319	principles, reconcile the unassigned balance in the General Fund at the 252
320	320	end of each fiscal year to the unassigned balance in the General Fund on 253
321	321	June 30, 2013, the portion already amortized and any unassigned 254
322	322	balance created after June 30, 2013. The Secretary of the Office of Policy 255
323	323	and Management shall annually publish a recommended amortization 256
324	324	schedule to fully reduce such negative unassigned balance by June 30, 257
325	325	2028. 258
326	326	(d) The unreserved negative balance in the General Fund reported in 259
327	327	the annual comprehensive financial report issued by the Comptroller 260
328	328	for the fiscal year ending June 30, 2014, reduced by (1) the negative 261
329	329	unassigned balance in the General Fund for the fiscal year ending June 262
330	330	30, 2013, and (2) any funds from other resources deposited in the 263
331	331	General Fund for the purpose of reducing the negative unassigned 264
332	332	balance of the fund shall be amortized in each fiscal year of each biennial 265
333	333	budget, commencing with the fiscal year ending June 30, 2018, and for 266
334	334	the succeeding ten fiscal years. The Secretary of the Office of Policy and 267
335	335	Management shall annually publish a recommended amortization 268
336	336	schedule to fully reduce such negative unassigned balance by June 30, 269
337	337	2028.] 270 Governor's Bill No. 16
338	338
339	339
340	340
341	341	LCO No. 469 10 of 40
342	342
343	343	Sec. 10. Section 4-66p of the 2024 supplement to the general statutes 271
344	344	is repealed and the following is substituted in lieu thereof (Effective July 272
345	345	1, 2024): 273
346	346	(a) As used in this section, unless the context otherwise requires: 274
347	347	(1) "Mill rate" means, unless otherwise specified, the mill rate a 275
348	348	municipality uses to calculate tax bills for motor vehicles; 276
349	349	(2) "Municipality" means any town, city, consolidated town and city 277
350	350	or consolidated town and borough; 278
351	351	(3) "District" means any fire district; and 279
352	352	(4) "Secretary" means the Secretary of the Office of Policy and 280
353	353	Management. 281
354	354	[(a)] (b) There is established a fund to be known as the "Municipal 282
355	355	Revenue Sharing Fund" which shall be a separate, nonlapsing fund. The 283
356	356	fund shall contain any moneys required by law to be deposited in the 284
357	357	fund. Moneys in the fund shall be expended by the Secretary of the 285
358	358	Office of Policy and Management for the purposes of providing grants 286
359	359	pursuant to subsections (c) to [(f)] (e), inclusive, of this section. 287
360	360	[(b) For the fiscal year ending June 30, 2017, ten million dollars shall 288
361	361	be transferred from such fund not later than April fifteenth for the 289
362	362	purposes of grants under section 10-262h.] 290
363	363	(c) (1) For the fiscal year ending June 30, 2023, and each fiscal year 291
364	364	thereafter, motor vehicle property tax grants shall be made to: 292
365	365	(A) Municipalities that imposed mill rates greater than 32.46 mills on 293
366	366	real property and personal property other than motor vehicles for the 294
367	367	preceding fiscal year, in an amount equal to the difference between (i) 295
368	368	the amount of property taxes the municipality would have levied on 296
369	369	motor vehicles for the preceding fiscal year if the mill rate imposed on 297
370	370	motor vehicles for such year was 32.46 mills, and (ii) the amount of 298
371	371	property taxes the municipality would have levied on motor vehicles 299 Governor's Bill No. 16
372	372
373	373
374	374
375	375	LCO No. 469 11 of 40
376	376
377	377	for the preceding fiscal year if the mill rate imposed on motor vehicles 300
378	378	for such year was equal to the mill rate imposed on real property and 301
379	379	personal property other than motor vehicles for such year; and 302
380	380	(B) Districts that imposed mill rates that, when combined with the 303
381	381	mill rate of the municipality in which the district is located, were greater 304
382	382	than 32.46 mills on real property and personal property other than 305
383	383	motor vehicles for the preceding fiscal year, in an amount equal to the 306
384	384	difference between (i) the amount of property taxes the district would 307
385	385	have levied on motor vehicles for the preceding fiscal year if the mill 308
386	386	rate imposed on motor vehicles for such year, when combined with the 309
387	387	mill rate imposed on motor vehicles for such year by the municipality 310
388	388	in which the district is located, was 32.46 mills, and (ii) the amount of 311
389	389	property taxes the district would have levied on motor vehicles for the 312
390	390	preceding fiscal year if the mill rate imposed on motor vehicles for such 313
391	391	year, when combined with the mill rate imposed on motor vehicles for 314
392	392	such year by the municipality in which the district is located, was equal 315
393	393	to the mill rate imposed by the district on real property and personal 316
394	394	property other than motor vehicles for such year. 317
395	395	[(c)] (2) For the fiscal year ending June 30, 2024, and each fiscal year 318
396	396	thereafter, moneys sufficient to make motor vehicle property tax grants 319
397	397	payable to municipalities pursuant to [subsection (c) of section 4-66l] 320
398	398	subdivision (1) of this subsection shall be expended not later than 321
399	399	August first annually by the secretary. 322
400	400	(d) For the fiscal year ending June 30, 2024, and each fiscal year 323
401	401	thereafter, moneys sufficient to make the grants payable pursuant to 324
402	402	subsections (d) and (e) of section 12-18b shall be expended by the 325
403	403	secretary. 326
404	404	(e) (1) For the fiscal year ending June 30, 2024, and each fiscal year 327
405	405	thereafter, each municipality or district listed below shall receive the 328
406	406	following supplemental revenue sharing grant payable not later than 329
407	407	October thirty-first annually: 330
408	408	T1 Grantee Grant Amount Governor's Bill No. 16
409	409
410	410
411	411
412	412	LCO No. 469 12 of 40
413	413
414	414	T2
415	415	T3 Andover 43,820
416	416	T4 Ansonia -
417	417	T5 Ashford 44,498
418	418	T6 Avon 142,054
419	419	T7 Barkhamsted -
420	420	T8 Beacon Falls -
421	421	T9 Berlin 258,989
422	422	T10 Bethany 26,746
423	423	T11 Bethel -
424	424	T12 Bethlehem 40,552
425	425	T13 Bloomfield 291,027
426	426	T14 Bolton 11,053
427	427	T15 Bozrah -
428	428	T16 Branford -
429	429	T17 Bridgeport 6,059,559
430	430	T18 Bridgewater -
431	431	T19 Bristol 234,651
432	432	T20 Brookfield 272,396
433	433	T21 Brooklyn -
434	434	T22 Burlington 34,417
435	435	T23 Canaan 24,132
436	436	T24 Canaan Fire District 100,000
437	437	T25 Canterbury 94,624
438	438	T26 Canton -
439	439	T27 Chaplin 34,779
440	440	T28 Cheshire 241,134
441	441	T29 Chester -
442	442	T30 Clinton 288,473
443	443	T31 Colchester 134,167
444	444	T32 Colebrook -
445	445	T33 Columbia 28,393
446	446	T34 Cornwall -
447	447	T35 Coventry 113,156
448	448	T36 Cromwell -
449	449	T37 Danbury 1,218,855
450	450	T38 Darien -
451	451	T39 Deep River -
452	452	T40 Derby 205,327
453	453	T41 Durham 244,059
454	454	T42 Eastford -
455	455	T43 East Granby - Governor's Bill No. 16
456	456
457	457
458	458
459	459	LCO No. 469 13 of 40
460	460
461	461	T44 East Haddam -
462	462	T45 East Hampton 120,397
463	463	T46 East Hartford 200,959
464	464	T47 East Haven -
465	465	T48 East Lyme 524,097
466	466	T49 Easton -
467	467	T50 East Windsor -
468	468	T51 Ellington -
469	469	T52 Enfield -
470	470	T53 Essex -
471	471	T54 Fairfield 191,245
472	472	T55 Farmington 802,461
473	473	T56 Franklin 25,666
474	474	T57 Glastonbury 385,930
475	475	T58 Goshen -
476	476	T59 Granby -
477	477	T60 Greenwich -
478	478	T61 Griswold -
479	479	T62 Groton 466,668
480	480	T63 Guilford 496,560
481	481	T64 Haddam -
482	482	T65 Hamden 1,646,236
483	483	T66 Hampton 28,585
484	484	T67 Hartford 15,792,632
485	485	T68 Hartland 76,110
486	486	T69 Harwinton 39,036
487	487	T70 Hebron 125,020
488	488	T71 Kent -
489	489	T72 Killingly 268,063
490	490	T73 Killingworth 155,954
491	491	T74 Lebanon 162,740
492	492	T75 Ledyard -
493	493	T76 Lisbon 139,316
494	494	T77 Litchfield 46,905
495	495	T78 Lyme -
496	496	T79 Madison 175,790
497	497	T80 Manchester 780,354
498	498	T81 Mansfield 3,291,730
499	499	T82 Marlborough 48,977
500	500	T83 Meriden 622,306
501	501	T84 Middlebury 15,067
502	502	T85 Middlefield 14,971 Governor's Bill No. 16
503	503
504	504
505	505
506	506	LCO No. 469 14 of 40
507	507
508	508	T86 Middletown -
509	509	T87 Milford 1,130,086
510	510	T88 Monroe 443,723
511	511	T89 Montville 20,897
512	512	T90 Morris -
513	513	T91 Naugatuck 283,399
514	514	T92 New Britain 2,176,332
515	515	T93 New Canaan -
516	516	T94 New Fairfield 265,666
517	517	T95 New Hartford -
518	518	T96 New Haven 16,921,822
519	519	T97 Newington -
520	520	T98 New London 1,112,913
521	521	T99 New Milford -
522	522	T100 Newtown 267,960
523	523	T101 Norfolk 9,911
524	524	T102 North Branford 152,031
525	525	T103 North Canaan 11,334
526	526	T104 North Haven -
527	527	T105 North Stonington -
528	528	T106 Norwalk 1,780,046
529	529	T107 Norwich 210,834
530	530	T108 Old Lyme -
531	531	T109 Old Saybrook -
532	532	T110 Orange 221,467
533	533	T111 Oxford 267,543
534	534	T112 Plainfield -
535	535	T113 Plainville -
536	536	T114 Plymouth -
537	537	T115 Pomfret 23,434
538	538	T116 Portland -
539	539	T117 Preston -
540	540	T118 Prospect 73,271
541	541	T119 Putnam 71,039
542	542	T120 Redding 57,277
543	543	T121 Ridgefield 117,659
544	544	T122 Rocky Hill 65,602
545	545	T123 Roxbury -
546	546	T124 Salem 132,694
547	547	T125 Salisbury -
548	548	T126 Scotland 13,960
549	549	T127 Seymour - Governor's Bill No. 16
550	550
551	551
552	552
553	553	LCO No. 469 15 of 40
554	554
555	555	T128 Sharon -
556	556	T129 Shelton -
557	557	T130 Sherman -
558	558	T131 Simsbury -
559	559	T132 Somers 240,198
560	560	T133 Southbury 74,062
561	561	T134 Southington -
562	562	T135 South Windsor 57,854
563	563	T136 Sprague -
564	564	T137 Stafford -
565	565	T138 Stamford 1,846,049
566	566	T139 Sterling -
567	567	T140 Stonington 218,992
568	568	T141 Stratford -
569	569	T142 Suffield 206,051
570	570	T143 Thomaston -
571	571	T144 Thompson 4,459
572	572	T145 Tolland 322,977
573	573	T146 Torrington 72,539
574	574	T147 Trumbull 604,706
575	575	T148 Union -
576	576	T149 Vernon 330,755
577	577	T150 Voluntown -
578	578	T151 Wallingford -
579	579	T152 Warren -
580	580	T153 Washington -
581	581	T154 Waterbury 5,582,559
582	582	T155 Waterford -
583	583	T156 Watertown -
584	584	T157 Westbrook -
585	585	T158 West Hartford -
586	586	T159 West Haven -
587	587	T160 Weston 70,181
588	588	T161 Westport 66,133
589	589	T162 Wethersfield -
590	590	T163 Willington -
591	591	T164 Wilton 93,135
592	592	T165 Winchester 105,432
593	593	T166 Windham 1,349,376
594	594	T167 Windsor 357,943
595	595	T168 Windsor Locks 150,116
596	596	T169 Wolcott 136,938 Governor's Bill No. 16
597	597
598	598
599	599
600	600	LCO No. 469 16 of 40
601	601
602	602	T170 Woodbridge 120,477
603	603	T171 Woodbury -
604	604	T172 Woodstock -
605	605	T173 TOTAL 74,672,468
606	606
607	607	(2) If the total of grants payable to each municipality and district in 331
608	608	accordance with subdivision (1) of this subsection exceeds the amount 332
609	609	appropriated for the purposes of said subdivision, the amount of the 333
610	610	grant payable to each municipality and district shall be reduced 334
611	611	proportionately. 335
612	612	(3) A municipality may disburse any supplemental revenue sharing 336
613	613	grant funds received under this subsection to a district within such 337
614	614	municipality. 338
615	615	(4) (A) For the fiscal year ending June 30, 2025, and each fiscal year 339
616	616	thereafter, no municipality shall receive a grant under this subsection 340
617	617	with respect to any fiscal year for which the municipality increases its 341
618	618	adopted budget expenditures for such fiscal year by 2.5 per cent or more 342
619	619	or the annual increase in the consumer price index for urban consumers 343
620	620	during the prior fiscal year, whichever is greater, over the amount of 344
621	621	adopted budget expenditures authorized for the prior fiscal year. 345
622	622	(B) For a municipality whose population has increased from the prior 346
623	623	fiscal year, the cap calculated pursuant to subparagraph (A) of this 347
624	624	subdivision shall be increased proportionately to the increase in such 348
625	625	municipality's population, as determined by the secretary based on the 349
626	626	Department of Public Health's population estimates. The cap shall not 350
627	627	be decreased for a municipality whose population has decreased from 351
628	628	the prior fiscal year. 352
629	629	(C) Not later than thirty days after adoption of its budget, each 353
630	630	municipality shall certify to the secretary, in the form and manner 354
631	631	prescribed by the secretary, whether the municipality has exceeded the 355
632	632	cap set forth in subparagraph (A) of this subdivision and, if so, the 356
633	633	amount by which the cap was exceeded. 357 Governor's Bill No. 16
634	634
635	635
636	636
637	637	LCO No. 469 17 of 40
638	638
639	639	(D) For purposes of this subdivision, "adopted budget expenditures" 358
640	640	includes expenditures from a municipality's general fund including for 359
641	641	education, but does not include (i) expenditures for debt service, special 360
642	642	education or implementation of court orders or arbitration awards, (ii) 361
643	643	expenditures associated with a major disaster or emergency declaration 362
644	644	by the President of the United States or a disaster emergency declaration 363
645	645	issued by the Governor pursuant to chapter 517, or (iii) budgeting for 364
646	646	an audited deficit, nonrecurring grants, nonrecurring capital 365
647	647	expenditures of one hundred thousand dollars or more or payments on 366
648	648	unfunded pension liabilities or the initial increases due to the 367
649	649	consolidation of a special tax district into the municipality. 368
650	650	[(f) (1) For the fiscal year ending June 30, 2024, and each fiscal year 369
651	651	thereafter, moneys remaining in the Municipal Revenue Sharing Fund, 370
652	652	including moneys accrued to the fund during such fiscal year but 371
653	653	received after the end of such fiscal year, shall be expended not later 372
654	654	than October first following the end of each such fiscal year by the 373
655	655	secretary for the purposes of the municipal revenue sharing grants 374
656	656	established pursuant to subsection (d) of section 4-66l. 375
657	657	(2) The amount of the grant payable to a municipality in any year in 376
658	658	accordance with subdivision (1) of this subsection shall be reduced 377
659	659	proportionately in the event that the total of such grants in such year 378
660	660	exceeds the amount available for such grants in the Municipal Revenue 379
661	661	Sharing Fund established pursuant to subsection (a) of this section.] 380
662	662	Sec. 11. Subsection (a) of section 12-130 of the general statutes is 381
663	663	repealed and the following is substituted in lieu thereof (Effective July 1, 382
664	664	2024): 383
665	665	(a) When any community, authorized to raise money by taxation, lays 384
666	666	a tax, it shall appoint a collector thereof; and the selectmen of towns, and 385
667	667	the committees of other communities, except as otherwise specially 386
668	668	provided by law, shall make out and sign rate bills containing the 387
669	669	proportion which each individual is to pay according to the assessment 388
670	670	list; and any judge of the Superior Court or any justice of the peace, on 389 Governor's Bill No. 16
671	671
672	672
673	673
674	674	LCO No. 469 18 of 40
675	675
676	676	their application or that of their successors in office, shall issue a warrant 390
677	677	for the collection of any sums due on such rate bills. Each collector shall 391
678	678	mail or hand to each individual from whom taxes are due a bill for the 392
679	679	amount of taxes for which such individual is liable. In addition, the 393
680	680	collector shall include with such bill, using one of the following methods 394
681	681	of (1) attachment, (2) enclosure, or (3) printed matter upon the face of 395
682	682	the bill, a statement of: 396
683	683	(A) State aid to municipalities which shall be in the following form: 397
684	684	"The (fiscal year) budget for the (city or town) estimates that .... 398
685	685	Dollars will be received from the state of Connecticut for various state 399
686	686	financed programs. Without this assistance your (fiscal year) property 400
687	687	tax would be (herein insert the amount computed in accordance with 401
688	688	subsection (b) of this section) mills"; and 402
689	689	(B) State aid reduction to municipalities that overspend, which shall 403
690	690	be in the following form: 404
691	691	"The state will reduce grants to your town if local spending increases 405
692	692	by more than 2.5 per cent or the annual increase in the consumer price 406
693	693	index for urban consumers during the prior fiscal year, whichever is 407
694	694	greater, from the previous fiscal year." 408
695	695	Failure to send out or receive any such bill or statement shall not 409
696	696	invalidate the tax. For purposes of this subsection, "mail" includes to 410
697	697	send by electronic mail, provided an individual from whom taxes are 411
698	698	due consents in writing to receive a bill and statement electronically. 412
699	699	Prior to sending any such bill or statement by electronic mail, a 413
700	700	community shall provide the public with the appropriate electronic mail 414
701	701	address of the community on the community's Internet web site and 415
702	702	shall establish procedures to ensure that any individual who consents 416
703	703	to receive a bill or statement electronically (i) receives such bill or 417
704	704	statement, and (ii) is provided the proper return electronic mail address 418
705	705	of the community sending the bill or statement. 419 Governor's Bill No. 16
706	706
707	707
708	708
709	709	LCO No. 469 19 of 40
710	710
711	711	Sec. 12. Subparagraph (L) of subdivision (1) of section 12-408 of the 420
712	712	2024 supplement to the general statutes is repealed and the following is 421
713	713	substituted in lieu thereof (Effective July 1, 2024): 422
714	714	(L) [(i) For calendar months commencing on or after July 1, 2021, but 423
715	715	prior to July 1, 2023, the commissioner shall deposit into the municipal 424
716	716	revenue sharing account established pursuant to section 4-66l seven and 425
717	717	nine-tenths per cent of the amounts received by the state from the tax 426
718	718	imposed under subparagraph (A) of this subdivision, including such 427
719	719	amounts received on or after July 1, 2023, attributable to the fiscal year 428
720	720	ending June 30, 2023; and (ii)] For calendar months commencing on or 429
721	721	after July 1, 2023, the commissioner shall deposit into the Municipal 430
722	722	Revenue Sharing Fund established pursuant to section 4-66p, as 431
723	723	amended by this act, seven and nine-tenths per cent of the amounts 432
724	724	received by the state from the tax imposed under subparagraph (A) of 433
725	725	this subdivision; and 434
726	726	Sec. 13. Subparagraph (K) of subdivision (1) of section 12-411 of the 435
727	727	2024 supplement to the general statutes is repealed and the following is 436
728	728	substituted in lieu thereof (Effective July 1, 2024): 437
729	729	(K) [(i) For calendar months commencing on or after July 1, 2021, but 438
730	730	prior to July 1, 2023, the commissioner shall deposit into the municipal 439
731	731	revenue sharing account established pursuant to section 4-66l seven and 440
732	732	nine-tenths per cent of the amounts received by the state from the tax 441
733	733	imposed under subparagraph (A) of this subdivision, including such 442
734	734	amounts received on or after July 1, 2023, attributable to the fiscal year 443
735	735	ending June 30, 2023; and (ii)] For calendar months commencing on or 444
736	736	after July 1, 2023, the commissioner shall deposit into the Municipal 445
737	737	Revenue Sharing Fund established pursuant to section 4-66p, as 446
738	738	amended by this act, seven and nine-tenths per cent of the amounts 447
739	739	received by the state from the tax imposed under subparagraph (A) of 448
740	740	this subdivision; and 449
741	741	Sec. 14. Section 4-66o of the general statutes is repealed and the 450
742	742	following is substituted in lieu thereof (Effective July 1, 2024): 451 Governor's Bill No. 16
743	743
744	744
745	745
746	746	LCO No. 469 20 of 40
747	747
748	748	The Secretary of the Office of Policy and Management may establish 452
749	749	receivables for the revenue anticipated pursuant to subparagraph [(K)] 453
750	750	(L) of subdivision (1) of section 12-408, as amended by this act, and 454
751	751	[section 4-66l] subparagraph (K) of subdivision (1) of section 12-411, as 455
752	752	amended by this act. 456
753	753	Sec. 15. Subsection (b) of section 8-395a of the 2024 supplement to the 457
754	754	general statutes is repealed and the following is substituted in lieu 458
755	755	thereof (Effective June 1, 2024): 459
756	756	(b) There is established a workforce housing opportunity 460
757	757	development program to be administered by the Department of 461
758	758	Housing under which individuals or entities who make cash 462
759	759	contributions to an eligible developer for an eligible workforce housing 463
760	760	opportunity development project located in a federally designated 464
761	761	opportunity zone may be allowed a credit against the tax due under 465
762	762	chapter 208 or 229 in an amount equal to [the amount specified by the 466
763	763	commissioner under this section] fifty per cent of the amount of the cash 467
764	764	contribution. Any developer of a workforce housing opportunity 468
765	765	development project shall be allowed an exemption from any fees under 469
766	766	section 29-263 and any eligible workforce housing opportunity 470
767	767	development project shall be assessed using the capitalization of net 471
768	768	income method under subsection (b) of section 12-63b. 472
769	769	Sec. 16. (NEW) (Effective from passage) For taxable years commencing 473
770	770	on or after January 1, 2020, but prior to January 1, 2024: 474
771	771	(1) A resident of this state who satisfies the provisions of 475
772	772	subparagraphs (A) to (D), inclusive, of this subdivision shall be allowed 476
773	773	a credit against the tax otherwise due for the applicable taxable year 477
774	774	under chapter 229 of the general statutes, other than the liability 478
775	775	imposed by section 12-707 of the general statutes, in an amount equal to 479
776	776	fifty per cent of the amount of taxes owed to this state as a result of the 480
777	777	readjustment of the credit for taxes paid to another state of the United 481
778	778	States or a political subdivision thereof or the District of Columbia, 482
779	779	pursuant to section 12-704 of the general statutes. To be eligible for the 483 Governor's Bill No. 16
780	780
781	781
782	782
783	783	LCO No. 469 21 of 40
784	784
785	785	credit under this section, such resident shall have: 484
786	786	(A) Paid any income tax or wage tax imposed for the taxable year by 485
787	787	another state of the United States or a political subdivision thereof or the 486
788	788	District of Columbia; 487
789	789	(B) Applied for and been denied a refund from such other jurisdiction 488
790	790	for taxes paid to such other jurisdiction on income derived from services 489
791	791	rendered while such resident was within this state; 490
792	792	(C) Filed an appeal with a court or tribunal through which such 491
793	793	resident formally protested such denial; and 492
794	794	(D) Obtained a final decision that resulted in such resident being 493
795	795	refunded taxes paid to such other jurisdiction on income derived from 494
796	796	services rendered while such resident was within this state. 495
797	797	(2) No penalty or interest shall be imposed on any late payment of 496
798	798	the tax due under chapter 229 of the general statutes, other than the 497
799	799	liability imposed by section 12-707 of the general statutes, if (A) such 498
800	800	late payment is attributable to a reduction in the credit for taxes paid 499
801	801	under section 12-704 of the general statutes, (B) such reduction in the 500
802	802	credit for taxes paid is the direct result of a refund that a resident of this 501
803	803	state received from another state of the United States or a political 502
804	804	subdivision thereof or the District of Columbia, (C) such refund relates 503
805	805	to income derived from services rendered while such resident was not 504
806	806	within such other jurisdiction, and (D) such other jurisdiction requires 505
807	807	employee income to be sourced to an employer's location if a 506
808	808	nonresident renders services from an out-of-state location. 507
809	809	Sec. 17. Subparagraph (B) of subdivision (20) of subsection (a) of 508
810	810	section 12-701 of the 2024 supplement to the general statutes is repealed 509
811	811	and the following is substituted in lieu thereof (Effective from passage): 510
812	812	(B) There shall be subtracted therefrom: 511
813	813	(i) To the extent properly includable in gross income for federal 512
814	814	income tax purposes, any income with respect to which taxation by any 513 Governor's Bill No. 16
815	815
816	816
817	817
818	818	LCO No. 469 22 of 40
819	819
820	820	state is prohibited by federal law; 514
821	821	(ii) To the extent allowable under section 12-718, exempt dividends 515
822	822	paid by a regulated investment company; 516
823	823	(iii) To the extent properly includable in gross income for federal 517
824	824	income tax purposes, the amount of any refund or credit for 518
825	825	overpayment of income taxes imposed by this state, or any other state 519
826	826	of the United States or a political subdivision thereof, or the District of 520
827	827	Columbia; 521
828	828	(iv) To the extent properly includable in gross income for federal 522
829	829	income tax purposes and not otherwise subtracted from federal 523
830	830	adjusted gross income pursuant to clause (x) of this subparagraph in 524
831	831	computing Connecticut adjusted gross income, any tier 1 railroad 525
832	832	retirement benefits; 526
833	833	(v) To the extent any additional allowance for depreciation under 527
834	834	Section 168(k) of the Internal Revenue Code for property placed in 528
835	835	service after September 27, 2017, was added to federal adjusted gross 529
836	836	income pursuant to subparagraph (A)(ix) of this subdivision in 530
837	837	computing Connecticut adjusted gross income, twenty-five per cent of 531
838	838	such additional allowance for depreciation in each of the four 532
839	839	succeeding taxable years; 533
840	840	(vi) To the extent properly includable in gross income for federal 534
841	841	income tax purposes, any interest income from obligations issued by or 535
842	842	on behalf of the state of Connecticut, any political subdivision thereof, 536
843	843	or public instrumentality, state or local authority, district or similar 537
844	844	public entity created under the laws of the state of Connecticut; 538
845	845	(vii) To the extent properly includable in determining the net gain or 539
846	846	loss from the sale or other disposition of capital assets for federal income 540
847	847	tax purposes, any gain from the sale or exchange of obligations issued 541
848	848	by or on behalf of the state of Connecticut, any political subdivision 542
849	849	thereof, or public instrumentality, state or local authority, district or 543
850	850	similar public entity created under the laws of the state of Connecticut, 544 Governor's Bill No. 16
851	851
852	852
853	853
854	854	LCO No. 469 23 of 40
855	855
856	856	in the income year such gain was recognized; 545
857	857	(viii) Any interest on indebtedness incurred or continued to purchase 546
858	858	or carry obligations or securities the interest on which is subject to tax 547
859	859	under this chapter but exempt from federal income tax, to the extent that 548
860	860	such interest on indebtedness is not deductible in determining federal 549
861	861	adjusted gross income and is attributable to a trade or business carried 550
862	862	on by such individual; 551
863	863	(ix) Ordinary and necessary expenses paid or incurred during the 552
864	864	taxable year for the production or collection of income which is subject 553
865	865	to taxation under this chapter but exempt from federal income tax, or 554
866	866	the management, conservation or maintenance of property held for the 555
867	867	production of such income, and the amortizable bond premium for the 556
868	868	taxable year on any bond the interest on which is subject to tax under 557
869	869	this chapter but exempt from federal income tax, to the extent that such 558
870	870	expenses and premiums are not deductible in determining federal 559
871	871	adjusted gross income and are attributable to a trade or business carried 560
872	872	on by such individual; 561
873	873	(x) (I) For taxable years commencing prior to January 1, 2019, for a 562
874	874	person who files a return under the federal income tax as an unmarried 563
875	875	individual whose federal adjusted gross income for such taxable year is 564
876	876	less than fifty thousand dollars, or as a married individual filing 565
877	877	separately whose federal adjusted gross income for such taxable year is 566
878	878	less than fifty thousand dollars, or for a husband and wife who file a 567
879	879	return under the federal income tax as married individuals filing jointly 568
880	880	whose federal adjusted gross income for such taxable year is less than 569
881	881	sixty thousand dollars or a person who files a return under the federal 570
882	882	income tax as a head of household whose federal adjusted gross income 571
883	883	for such taxable year is less than sixty thousand dollars, an amount 572
884	884	equal to the Social Security benefits includable for federal income tax 573
885	885	purposes; 574
886	886	(II) For taxable years commencing prior to January 1, 2019, for a 575
887	887	person who files a return under the federal income tax as an unmarried 576 Governor's Bill No. 16
888	888
889	889
890	890
891	891	LCO No. 469 24 of 40
892	892
893	893	individual whose federal adjusted gross income for such taxable year is 577
894	894	fifty thousand dollars or more, or as a married individual filing 578
895	895	separately whose federal adjusted gross income for such taxable year is 579
896	896	fifty thousand dollars or more, or for a husband and wife who file a 580
897	897	return under the federal income tax as married individuals filing jointly 581
898	898	whose federal adjusted gross income from such taxable year is sixty 582
899	899	thousand dollars or more or for a person who files a return under the 583
900	900	federal income tax as a head of household whose federal adjusted gross 584
901	901	income for such taxable year is sixty thousand dollars or more, an 585
902	902	amount equal to the difference between the amount of Social Security 586
903	903	benefits includable for federal income tax purposes and the lesser of 587
904	904	twenty-five per cent of the Social Security benefits received during the 588
905	905	taxable year, or twenty-five per cent of the excess described in Section 589
906	906	86(b)(1) of the Internal Revenue Code; 590
907	907	(III) For the taxable year commencing January 1, 2019, and each 591
908	908	taxable year thereafter, for a person who files a return under the federal 592
909	909	income tax as an unmarried individual whose federal adjusted gross 593
910	910	income for such taxable year is less than seventy-five thousand dollars, 594
911	911	or as a married individual filing separately whose federal adjusted gross 595
912	912	income for such taxable year is less than seventy-five thousand dollars, 596
913	913	or for a husband and wife who file a return under the federal income tax 597
914	914	as married individuals filing jointly whose federal adjusted gross 598
915	915	income for such taxable year is less than one hundred thousand dollars 599
916	916	or a person who files a return under the federal income tax as a head of 600
917	917	household whose federal adjusted gross income for such taxable year is 601
918	918	less than one hundred thousand dollars, an amount equal to the Social 602
919	919	Security benefits includable for federal income tax purposes; and 603
920	920	(IV) For the taxable year commencing January 1, 2019, and each 604
921	921	taxable year thereafter, for a person who files a return under the federal 605
922	922	income tax as an unmarried individual whose federal adjusted gross 606
923	923	income for such taxable year is seventy-five thousand dollars or more, 607
924	924	or as a married individual filing separately whose federal adjusted gross 608
925	925	income for such taxable year is seventy-five thousand dollars or more, 609
926	926	or for a husband and wife who file a return under the federal income tax 610 Governor's Bill No. 16
927	927
928	928
929	929
930	930	LCO No. 469 25 of 40
931	931
932	932	as married individuals filing jointly whose federal adjusted gross 611
933	933	income from such taxable year is one hundred thousand dollars or more 612
934	934	or for a person who files a return under the federal income tax as a head 613
935	935	of household whose federal adjusted gross income for such taxable year 614
936	936	is one hundred thousand dollars or more, an amount equal to the 615
937	937	difference between the amount of Social Security benefits includable for 616
938	938	federal income tax purposes and the lesser of twenty-five per cent of the 617
939	939	Social Security benefits received during the taxable year, or twenty-five 618
940	940	per cent of the excess described in Section 86(b)(1) of the Internal 619
941	941	Revenue Code; 620
942	942	(xi) To the extent properly includable in gross income for federal 621
943	943	income tax purposes, any amount rebated to a taxpayer pursuant to 622
944	944	section 12-746; 623
945	945	(xii) To the extent properly includable in the gross income for federal 624
946	946	income tax purposes of a designated beneficiary, any distribution to 625
947	947	such beneficiary from any qualified state tuition program, as defined in 626
948	948	Section 529(b) of the Internal Revenue Code, established and 627
949	949	maintained by this state or any official, agency or instrumentality of the 628
950	950	state; 629
951	951	(xiii) To the extent allowable under section 12-701a, contributions to 630
952	952	accounts established pursuant to any qualified state tuition program, as 631
953	953	defined in Section 529(b) of the Internal Revenue Code, established and 632
954	954	maintained by this state or any official, agency or instrumentality of the 633
955	955	state; 634
956	956	(xiv) To the extent properly includable in gross income for federal 635
957	957	income tax purposes, the amount of any Holocaust victims' settlement 636
958	958	payment received in the taxable year by a Holocaust victim; 637
959	959	(xv) To the extent properly includable in the gross income for federal 638
960	960	income tax purposes of a designated beneficiary, as defined in section 639
961	961	3-123aa, interest, dividends or capital gains earned on contributions to 640
962	962	accounts established for the designated beneficiary pursuant to the 641
963	963	Connecticut Homecare Option Program for the Elderly established by 642 Governor's Bill No. 16
964	964
965	965
966	966
967	967	LCO No. 469 26 of 40
968	968
969	969	sections 3-123aa to 3-123ff, inclusive; 643
970	970	(xvi) To the extent properly includable in gross income for federal 644
971	971	income tax purposes, any income received from the United States 645
972	972	government as retirement pay for a retired member of (I) the Armed 646
973	973	Forces of the United States, as defined in Section 101 of Title 10 of the 647
974	974	United States Code, or (II) the National Guard, as defined in Section 101 648
975	975	of Title 10 of the United States Code; 649
976	976	(xvii) To the extent properly includable in gross income for federal 650
977	977	income tax purposes for the taxable year, any income from the discharge 651
978	978	of indebtedness in connection with any reacquisition, after December 652
979	979	31, 2008, and before January 1, 2011, of an applicable debt instrument or 653
980	980	instruments, as those terms are defined in Section 108 of the Internal 654
981	981	Revenue Code, as amended by Section 1231 of the American Recovery 655
982	982	and Reinvestment Act of 2009, to the extent any such income was added 656
983	983	to federal adjusted gross income pursuant to subparagraph (A)(xi) of 657
984	984	this subdivision in computing Connecticut adjusted gross income for a 658
985	985	preceding taxable year; 659
986	986	(xviii) To the extent not deductible in determining federal adjusted 660
987	987	gross income, the amount of any contribution to a manufacturing 661
988	988	reinvestment account established pursuant to section 32-9zz in the 662
989	989	taxable year that such contribution is made; 663
990	990	(xix) To the extent properly includable in gross income for federal 664
991	991	income tax purposes, (I) for the taxable year commencing January 1, 665
992	992	2015, ten per cent of the income received from the state teachers' 666
993	993	retirement system, (II) for the taxable years commencing January 1, 667
994	994	2016, to January 1, 2020, inclusive, twenty-five per cent of the income 668
995	995	received from the state teachers' retirement system, and (III) for the 669
996	996	taxable year commencing January 1, 2021, and each taxable year 670
997	997	thereafter, fifty per cent of the income received from the state teachers' 671
998	998	retirement system or, for a taxpayer whose federal adjusted gross 672
999	999	income does not exceed the applicable threshold under clause (xx) of 673
1000	1000	this subparagraph, the percentage pursuant to said clause of the income 674 Governor's Bill No. 16
1001	1001
1002	1002
1003	1003
1004	1004	LCO No. 469 27 of 40
1005	1005
1006	1006	received from the state teachers' retirement system, whichever 675
1007	1007	deduction is greater; 676
1008	1008	(xx) To the extent properly includable in gross income for federal 677
1009	1009	income tax purposes, except for retirement benefits under clause (iv) of 678
1010	1010	this subparagraph and retirement pay under clause (xvi) of this 679
1011	1011	subparagraph, for a person who files a return under the federal income 680
1012	1012	tax as an unmarried individual whose federal adjusted gross income for 681
1013	1013	such taxable year is less than seventy-five thousand dollars, or as a 682
1014	1014	married individual filing separately whose federal adjusted gross 683
1015	1015	income for such taxable year is less than seventy-five thousand dollars, 684
1016	1016	or as a head of household whose federal adjusted gross income for such 685
1017	1017	taxable year is less than seventy-five thousand dollars, or for a husband 686
1018	1018	and wife who file a return under the federal income tax as married 687
1019	1019	individuals filing jointly whose federal adjusted gross income for such 688
1020	1020	taxable year is less than one hundred thousand dollars, (I) for the taxable 689
1021	1021	year commencing January 1, 2019, fourteen per cent of any pension or 690
1022	1022	annuity income, (II) for the taxable year commencing January 1, 2020, 691
1023	1023	twenty-eight per cent of any pension or annuity income, (III) for the 692
1024	1024	taxable year commencing January 1, 2021, forty-two per cent of any 693
1025	1025	pension or annuity income, and (IV) for the taxable years commencing 694
1026	1026	January 1, 2022, and January 1, 2023, one hundred per cent of any 695
1027	1027	pension or annuity income; 696
1028	1028	(xxi) To the extent properly includable in gross income for federal 697
1029	1029	income tax purposes, except for retirement benefits under clause (iv) of 698
1030	1030	this subparagraph and retirement pay under clause (xvi) of this 699
1031	1031	subparagraph, any pension or annuity income for the taxable year 700
1032	1032	commencing on or after January 1, 2024, and each taxable year 701
1033	1033	thereafter, in accordance with the following schedule, for a person who 702
1034	1034	files a return under the federal income tax as an unmarried individual 703
1035	1035	whose federal adjusted gross income for such taxable year is less than 704
1036	1036	one hundred thousand dollars, or as a married individual filing 705
1037	1037	separately whose federal adjusted gross income for such taxable year is 706
1038	1038	less than one hundred thousand dollars, or as a head of household 707
1039	1039	whose federal adjusted gross income for such taxable year is less than 708 Governor's Bill No. 16
1040	1040
1041	1041
1042	1042
1043	1043	LCO No. 469 28 of 40
1044	1044
1045	1045	one hundred thousand dollars: 709
1046	1046	T174
1047	1047	Federal Adjusted Gross Income Deduction
1048	1048	T175 Less than $75,000 100.0%
1049	1049	T176 $75,000 but not over $77,499 85.0%
1050	1050	T177 $77,500 but not over $79,999 70.0%
1051	1051	T178 $80,000 but not over $82,499 55.0%
1052	1052	T179 $82,500 but not over $84,999 40.0%
1053	1053	T180 $85,000 but not over $87,499 25.0%
1054	1054	T181 $87,500 but not over $89,999 10.0%
1055	1055	T182 $90,000 but not over $94,999 5.0%
1056	1056	T183 $95,000 but not over $99,999 2.5%
1057	1057	T184 $100,000 and over 0.0%
1058	1058
1059	1059	(xxii) To the extent properly includable in gross income for federal 710
1060	1060	income tax purposes, except for retirement benefits under clause (iv) of 711
1061	1061	this subparagraph and retirement pay under clause (xvi) of this 712
1062	1062	subparagraph, any pension or annuity income for the taxable year 713
1063	1063	commencing on or after January 1, 2024, and each taxable year 714
1064	1064	thereafter, in accordance with the following schedule for married 715
1065	1065	individuals who file a return under the federal income tax as married 716
1066	1066	individuals filing jointly whose federal adjusted gross income for such 717
1067	1067	taxable year is less than one hundred fifty thousand dollars: 718
1068	1068	T185
1069	1069	Federal Adjusted Gross Income Deduction
1070	1070	T186 Less than $100,000 100.0%
1071	1071	T187 $100,000 but not over $104,999 85.0%
1072	1072	T188 $105,000 but not over $109,999 70.0%
1073	1073	T189 $110,000 but not over $114,999 55.0%
1074	1074	T190 $115,000 but not over $119,999 40.0%
1075	1075	T191 $120,000 but not over $124,999 25.0%
1076	1076	T192 $125,000 but not over $129,999 10.0%
1077	1077	T193 $130,000 but not over $139,999 5.0%
1078	1078	T194 $140,000 but not over $149,999 2.5%
1079	1079	T195 $150,000 and over 0.0%
1080	1080
1081	1081	(xxiii) The amount of lost wages and medical, travel and housing 719 Governor's Bill No. 16
1082	1082
1083	1083
1084	1084
1085	1085	LCO No. 469 29 of 40
1086	1086
1087	1087	expenses, not to exceed ten thousand dollars in the aggregate, incurred 720
1088	1088	by a taxpayer during the taxable year in connection with the donation 721
1089	1089	to another person of an organ for organ transplantation occurring on or 722
1090	1090	after January 1, 2017; 723
1091	1091	(xxiv) To the extent properly includable in gross income for federal 724
1092	1092	income tax purposes, the amount of any financial assistance received 725
1093	1093	from the Crumbling Foundations Assistance Fund or paid to or on 726
1094	1094	behalf of the owner of a residential building pursuant to sections 8-442 727
1095	1095	and 8-443; 728
1096	1096	(xxv) To the extent properly includable in gross income for federal 729
1097	1097	income tax purposes, the amount calculated pursuant to subsection (b) 730
1098	1098	of section 12-704g for income received by a general partner of a venture 731
1099	1099	capital fund, as defined in 17 CFR 275.203(l)-1, as amended from time to 732
1100	1100	time; 733
1101	1101	(xxvi) To the extent any portion of a deduction under Section 179 of 734
1102	1102	the Internal Revenue Code was added to federal adjusted gross income 735
1103	1103	pursuant to subparagraph (A)(xiv) of this subdivision in computing 736
1104	1104	Connecticut adjusted gross income, twenty-five per cent of such 737
1105	1105	disallowed portion of the deduction in each of the four succeeding 738
1106	1106	taxable years; 739
1107	1107	(xxvii) To the extent properly includable in gross income for federal 740
1108	1108	income tax purposes, for a person who files a return under the federal 741
1109	1109	income tax as an unmarried individual whose federal adjusted gross 742
1110	1110	income for such taxable year is less than seventy-five thousand dollars, 743
1111	1111	or as a married individual filing separately whose federal adjusted gross 744
1112	1112	income for such taxable year is less than seventy-five thousand dollars, 745
1113	1113	or as a head of household whose federal adjusted gross income for such 746
1114	1114	taxable year is less than seventy-five thousand dollars, or for a husband 747
1115	1115	and wife who file a return under the federal income tax as married 748
1116	1116	individuals filing jointly whose federal adjusted gross income for such 749
1117	1117	taxable year is less than one hundred thousand dollars, for the taxable 750
1118	1118	year commencing January 1, 2023, twenty-five per cent of any 751 Governor's Bill No. 16
1119	1119
1120	1120
1121	1121
1122	1122	LCO No. 469 30 of 40
1123	1123
1124	1124	distribution from an individual retirement account other than a Roth 752
1125	1125	individual retirement account; 753
1126	1126	(xxviii) To the extent properly includable in gross income for federal 754
1127	1127	income tax purposes, for a person who files a return under the federal 755
1128	1128	income tax as an unmarried individual whose federal adjusted gross 756
1129	1129	income for such taxable year is less than one hundred thousand dollars, 757
1130	1130	or as a married individual filing separately whose federal adjusted gross 758
1131	1131	income for such taxable year is less than one hundred thousand dollars, 759
1132	1132	or as a head of household whose federal adjusted gross income for such 760
1133	1133	taxable year is less than one hundred thousand dollars, (I) for the taxable 761
1134	1134	year commencing January 1, 2024, fifty per cent of any distribution from 762
1135	1135	an individual retirement account other than a Roth individual 763
1136	1136	retirement account, (II) for the taxable year commencing January 1, 2025, 764
1137	1137	seventy-five per cent of any distribution from an individual retirement 765
1138	1138	account other than a Roth individual retirement account, and (III) for 766
1139	1139	the taxable year commencing January 1, 2026, and each taxable year 767
1140	1140	thereafter, any distribution from an individual retirement account other 768
1141	1141	than a Roth individual retirement account. The subtraction under this 769
1142	1142	clause shall be made in accordance with the following schedule: 770
1143	1143	T196
1144	1144	Federal Adjusted Gross Income Deduction
1145	1145	T197 Less than $75,000 100.0%
1146	1146	T198 $75,000 but not over $77,499 85.0%
1147	1147	T199 $77,500 but not over $79,999 70.0%
1148	1148	T200 $80,000 but not over $82,499 55.0%
1149	1149	T201 $82,500 but not over $84,999 40.0%
1150	1150	T202 $85,000 but not over $87,499 25.0%
1151	1151	T203 $87,500 but not over $89,999 10.0%
1152	1152	T204 $90,000 but not over $94,999 5.0%
1153	1153	T205 $95,000 but not over $99,999 2.5%
1154	1154	T206 $100,000 and over 0.0%
1155	1155
1156	1156	(xxix) To the extent properly includable in gross income for federal 771
1157	1157	income tax purposes, for married individuals who file a return under 772
1158	1158	the federal income tax as married individuals filing jointly whose 773 Governor's Bill No. 16
1159	1159
1160	1160
1161	1161
1162	1162	LCO No. 469 31 of 40
1163	1163
1164	1164	federal adjusted gross income for such taxable year is less than one 774
1165	1165	hundred fifty thousand dollars, (I) for the taxable year commencing 775
1166	1166	January 1, 2024, fifty per cent of any distribution from an individual 776
1167	1167	retirement account other than a Roth individual retirement account, (II) 777
1168	1168	for the taxable year commencing January 1, 2025, seventy-five per cent 778
1169	1169	of any distribution from an individual retirement account other than a 779
1170	1170	Roth individual retirement account, and (III) for the taxable year 780
1171	1171	commencing January 1, 2026, and each taxable year thereafter, any 781
1172	1172	distribution from an individual retirement account other than a Roth 782
1173	1173	individual retirement account. The subtraction under this clause shall 783
1174	1174	be made in accordance with the following schedule: 784
1175	1175	T207
1176	1176	Federal Adjusted Gross Income Deduction
1177	1177	T208 Less than $100,000 100.0%
1178	1178	T209 $100,000 but not over $104,999 85.0%
1179	1179	T210 $105,000 but not over $109,999 70.0%
1180	1180	T211 $110,000 but not over $114,999 55.0%
1181	1181	T212 $115,000 but not over $119,999 40.0%
1182	1182	T213 $120,000 but not over $124,999 25.0%
1183	1183	T214 $125,000 but not over $129,999 10.0%
1184	1184	T215 $130,000 but not over $139,999 5.0%
1185	1185	T216 $140,000 but not over $149,999 2.5%
1186	1186	T217 $150,000 and over 0.0%
1187	1187
1188	1188	(xxx) To the extent properly includable in gross income for federal 785
1189	1189	income tax purposes, for the taxable year commencing January 1, 2022, 786
1190	1190	the amount or amounts paid or otherwise credited to any eligible 787
1191	1191	resident of this state under (I) the 2020 Earned Income Tax Credit 788
1192	1192	enhancement program from funding allocated to the state through the 789
1193	1193	Coronavirus Relief Fund established under the Coronavirus Aid, Relief, 790
1194	1194	and Economic Security Act, P.L. 116-136, and (II) the 2021 Earned 791
1195	1195	Income Tax Credit enhancement program from funding allocated to the 792
1196	1196	state pursuant to Section 9901 of Subtitle M of Title IX of the American 793
1197	1197	Rescue Plan Act of 2021, P.L. 117-2; 794
1198	1198	(xxxi) For the taxable year commencing January 1, 2023, and each 795 Governor's Bill No. 16
1199	1199
1200	1200
1201	1201
1202	1202	LCO No. 469 32 of 40
1203	1203
1204	1204	taxable year thereafter, for a taxpayer licensed under the provisions of 796
1205	1205	chapter 420f or 420h, the amount of ordinary and necessary expenses 797
1206	1206	that would be eligible to be claimed as a deduction for federal income 798
1207	1207	tax purposes under Section 162(a) of the Internal Revenue Code but that 799
1208	1208	are disallowed under Section 280E of the Internal Revenue Code 800
1209	1209	because marijuana is a controlled substance under the federal 801
1210	1210	Controlled Substance Act; 802
1211	1211	[(xxxii) To the extent properly includable in gross income for federal 803
1212	1212	income tax purposes, for the taxable year commencing on or after 804
1213	1213	January 1, 2025, and each taxable year thereafter, any common stock 805
1214	1214	received by the taxpayer during the taxable year under a share plan, as 806
1215	1215	defined in section 12-217ss;] 807
1216	1216	[(xxxiii)] (xxxii) To the extent properly includable in gross income for 808
1217	1217	federal income tax purposes, the amount of any student loan 809
1218	1218	reimbursement payment received by a taxpayer pursuant to section 10a-810
1219	1219	19m; and 811
1220	1220	[(xxxiv)] (xxxiii) Contributions to an ABLE account established 812
1221	1221	pursuant to sections 3-39k to 3-39q, inclusive, not to exceed five 813
1222	1222	thousand dollars for each individual taxpayer or ten thousand dollars 814
1223	1223	for taxpayers filing a joint return. 815
1224	1224	Sec. 18. Section 13b-68 of the general statutes is repealed and the 816
1225	1225	following is substituted in lieu thereof (Effective from passage): 817
1226	1226	(a) There is established a fund to be known as the "Special 818
1227	1227	Transportation Fund". The fund may contain any moneys required or 819
1228	1228	permitted by law to be deposited in the fund and any moneys recovered 820
1229	1229	by the state for overpayments, improper payments or duplicate 821
1230	1230	payments made by the state relating to any transportation infrastructure 822
1231	1231	improvements [which] that have been financed by special tax obligation 823
1232	1232	bonds issued pursuant to sections 13b-74 to 13b-77, inclusive, and shall 824
1233	1233	be held by the Treasurer separate and apart from all other moneys, 825
1234	1234	funds and accounts. Investment earnings credited to the assets of said 826
1235	1235	fund shall become part of the assets of said fund. Any balance remaining 827 Governor's Bill No. 16
1236	1236
1237	1237
1238	1238
1239	1239	LCO No. 469 33 of 40
1240	1240
1241	1241	in said fund at the end of any fiscal year shall be carried forward in said 828
1242	1242	fund for the fiscal year next succeeding. 829
1243	1243	(b) The Special Transportation Fund shall be a perpetual fund, the 830
1244	1244	resources of which shall be expended solely for transportation purposes. 831
1245	1245	Such purposes include the payment of debt service on obligations of the 832
1246	1246	state incurred for transportation purposes. All sources of moneys, funds 833
1247	1247	and receipts of the state required to be credited, deposited or transferred 834
1248	1248	to said fund by state law on or after June 30, 2015, shall continue to be 835
1249	1249	credited, deposited or transferred to said fund, so long as the sources of 836
1250	1250	such moneys, funds and receipts are collected or received by the state or 837
1251	1251	any officer thereof. No law shall be enacted authorizing the resources of 838
1252	1252	said fund to be expended other than for transportation purposes. 839
1253	1253	(c) There is established a fund to be known as the "Transportation 840
1254	1254	Grants and Restricted Accounts Fund". Upon certification by the 841
1255	1255	Comptroller and the Secretary of the Office of Policy and Management 842
1256	1256	that the CORE-CT project for fiscal services is operational, the fund shall 843
1257	1257	contain all transportation moneys that are restricted, not available for 844
1258	1258	general use and previously accounted for in the Special Transportation 845
1259	1259	Fund as "Federal and Other Grants". The Comptroller is authorized to 846
1260	1260	make such transfers as are necessary to provide that, notwithstanding 847
1261	1261	any provision of the general statutes, all transportation moneys that are 848
1262	1262	restricted and not available for general use are in the Transportation 849
1263	1263	Grants and Restricted Accounts Fund. 850
1264	1264	(d) (1) For the fiscal year ending June 30, 2024, and each fiscal year 851
1265	1265	thereafter, after the accounts for the Special Transportation Fund have 852
1266	1266	been closed for each fiscal year and the Comptroller has determined the 853
1267	1267	balance remaining in said fund, after any amounts required by 854
1268	1268	provision of law to be transferred for other purposes have been 855
1269	1269	deducted, if the balance remaining exceeds eighteen per cent of the net 856
1270	1270	Special Transportation Fund appropriations for the current fiscal year, 857
1271	1271	the portion of the balance exceeding said eighteen per cent shall be 858
1272	1272	deemed to be appropriated for the following, as selected by the 859
1273	1273	Treasurer: 860 Governor's Bill No. 16
1274	1274
1275	1275
1276	1276
1277	1277	LCO No. 469 34 of 40
1278	1278
1279	1279	(A) Redeeming prior to maturity any outstanding special tax 861
1280	1280	obligation indebtedness of the state selected by the Treasurer in the best 862
1281	1281	interests of the state; 863
1282	1282	(B) Purchasing outstanding special tax obligation indebtedness of the 864
1283	1283	state in the open market at such prices and on such terms and conditions 865
1284	1284	as the Treasurer determines to be in the best interests of the state for the 866
1285	1285	purpose of extinguishing or defeasing such debt; 867
1286	1286	(C) Providing for the defeasance of any outstanding special tax 868
1287	1287	obligation indebtedness of the state selected by the Treasurer in the best 869
1288	1288	interest of the state by irrevocably placing with an escrow agent in trust 870
1289	1289	an amount used solely for, and sufficient to satisfy, scheduled payments 871
1290	1290	of both interest and principal on such indebtedness; or 872
1291	1291	(D) Any combination of these methods. 873
1292	1292	(2) For any method or combination of methods selected by the 874
1293	1293	Treasurer pursuant to subdivision (1) of this subsection, (A) such 875
1294	1294	method or combination of methods shall provide a reduction in 876
1295	1295	projected debt service for the current fiscal year and each of the nine 877
1296	1296	subsequent fiscal years, and (B) for the second fiscal year after the fiscal 878
1297	1297	year in which the balance was used in accordance with the provisions 879
1298	1298	of this subsection and each of the seven subsequent fiscal years, the 880
1299	1299	amount of the reduction in projected debt service shall not vary by more 881
1300	1300	than (i) one million dollars, or (ii) ten per cent of the least amount by 882
1301	1301	which projected debt service is reduced for the seven subsequent fiscal 883
1302	1302	years, whichever is greater. 884
1303	1303	(3) The Treasurer shall include information concerning the use of a 885
1304	1304	balance of the Special Transportation Fund pursuant to this subsection 886
1305	1305	in the annual report required under section 3-37, as amended by this act. 887
1306	1306	Sec. 19. Section 3-37 of the general statutes is repealed and the 888
1307	1307	following is substituted in lieu thereof (Effective from passage): 889
1308	1308	(a) The Treasurer shall, annually, on or before December thirty-first, 890 Governor's Bill No. 16
1309	1309
1310	1310
1311	1311
1312	1312	LCO No. 469 35 of 40
1313	1313
1314	1314	submit a final audited report to the Governor and a copy of such report 891
1315	1315	to the Investment Advisory Council, which shall include the following 892
1316	1316	information concerning the activities of the office of the State Treasurer 893
1317	1317	for the immediately preceding fiscal year ending June thirtieth: 894
1318	1318	(1) Complete financial statements and accompanying footnotes for 895
1319	1319	the combined investment funds prepared in accordance with generally 896
1320	1320	accepted accounting principles, which financial statements shall be 897
1321	1321	audited in accordance with generally accepted auditing standards and 898
1322	1322	supplementary schedules depicting the interests of the component 899
1323	1323	retirement plans and trust funds; 900
1324	1324	(2) [complete] Complete financial statements and accompanying 901
1325	1325	footnotes for the Short Term Investment Fund prepared in accordance 902
1326	1326	with generally accepted accounting principles and supplementary 903
1327	1327	schedules listing all assets held by the Short Term Investment Fund; 904
1328	1328	(3) [a] A discussion and review of the performance of the combined 905
1329	1329	investment funds and Short Term Investment Fund for such fiscal year 906
1330	1330	in accordance with recognized and appropriate performance 907
1331	1331	presentation and disclosure, including an analysis of the return earned 908
1332	1332	by the portfolio and each combined investment fund as well as the risk 909
1333	1333	profile of the portfolio and each combined investment fund according 910
1334	1334	to investment industry standards; 911
1335	1335	(4) [the] The activities and transactions in such reasonable detail as is 912
1336	1336	appropriate of the cash management division including information on 913
1337	1337	the state's cash receipts and disbursements for the fiscal year, and the 914
1338	1338	debt management division including the financial statements of the tax-915
1339	1339	exempt proceeds fund prepared in accordance with generally accepted 916
1340	1340	accounting principles; 917
1341	1341	(5) [financial] Financial statements and accompanying footnotes as 918
1342	1342	well as a summary of operating results for the Second Injury Fund for 919
1343	1343	such fiscal year; 920
1344	1344	(6) [a] A financial summary and report on the activities of the state's 921 Governor's Bill No. 16
1345	1345
1346	1346
1347	1347
1348	1348	LCO No. 469 36 of 40
1349	1349
1350	1350	unclaimed property program for such fiscal year; 922
1351	1351	(7) For a fiscal year in which the Treasurer used a portion of the 923
1352	1352	remaining balance of the Special Transportation Fund in accordance 924
1353	1353	with the provisions of subsection (d) of section 13b-68, as amended by 925
1354	1354	this act, a report on the amount used and the method or methods 926
1355	1355	selected pursuant to said subsection and the amount of the reduction in 927
1356	1356	projected debt service for the specified fiscal years and including a 928
1357	1357	statement that such reduction does not vary by more than the allowable 929
1358	1358	amount set forth in said subsection; 930
1359	1359	[(7) a] (8) A listing of the companies from which state funds were 931
1360	1360	divested based upon such companies' business in Sudan, pursuant to 932
1361	1361	the provisions of section 3-21e, and any companies identified by the 933
1362	1362	Treasurer as companies from which investment of state funds has been 934
1363	1363	declared impermissible by the Treasurer, pursuant to the provisions of 935
1364	1364	section 3-21e; and 936
1365	1365	[(8) such] (9) Such other information as the Treasurer deems of 937
1366	1366	interest to the public. 938
1367	1367	(b) Commencing October 1, 2010, and monthly thereafter, the 939
1368	1368	Treasurer shall submit a report to the chairpersons and ranking 940
1369	1369	members of the joint standing committees of the General Assembly 941
1370	1370	having cognizance of matters relating to finance, revenue and bonding 942
1371	1371	and appropriations and the budgets of state agencies, and to the 943
1372	1372	legislative Office of Fiscal Analysis. Such report shall include the 944
1373	1373	following information for the month two months prior to the month in 945
1374	1374	which the report is submitted: (1) A weekly list of the cash balance, with 946
1375	1375	amount and percentage of sources, such as the common cash pool, bond 947
1376	1376	fund investments and Special Transportation Fund investments, with 948
1377	1377	accompanying footnotes; (2) a year-to-date total, on an ongoing basis, of 949
1378	1378	authorized but unissued bonds, including assumptions in bond 950
1379	1379	issuance, and any changes from month to month in such assumptions; 951
1380	1380	(3) any other debt instruments or commercial paper issued, the types 952
1381	1381	and amounts, with accompanying footnotes; and (4) the amounts in the 953 Governor's Bill No. 16
1382	1382
1383	1383
1384	1384
1385	1385	LCO No. 469 37 of 40
1386	1386
1387	1387	common cash fund, with all components, such as bank and different 954
1388	1388	investment accounts, and the amounts thereof separately listed. 955
1389	1389	(c) The reports required pursuant to this section shall be made 956
1390	1390	available to the public in hard copy and accessible electronically by 957
1391	1391	means of the Internet or other media or systems available to the public. 958
1392	1392	Sec. 20. Subsection (c) of section 4-28e of the general statutes is 959
1393	1393	repealed and the following is substituted in lieu thereof (Effective July 1, 960
1394	1394	2024): 961
1395	1395	(c) Commencing with the fiscal year ending June 30, 2023, annual 962
1396	1396	disbursements from the Tobacco Settlement Fund shall be made as 963
1397	1397	follows: (1) To the Tobacco and Health Trust Fund in an amount equal 964
1398	1398	to twelve million dollars; and (2) the remainder to the General Fund; 965
1399	1399	except that for the fiscal year ending June 30, 2025, the annual 966
1400	1400	disbursement from the Tobacco Settlement Fund shall be made to the 967
1401	1401	General Fund. 968
1402	1402	Sec. 21. Subsection (b) of section 4-28e of the general statutes is 969
1403	1403	repealed and the following is substituted in lieu thereof (Effective July 1, 970
1404	1404	2025): 971
1405	1405	(b) (1) The Treasurer is authorized to invest all or any part of the 972
1406	1406	Tobacco Settlement Fund [,] and all or any part of the Tobacco and 973
1407	1407	Health Trust Fund created [in] under section 4-28f. [and all or any part 974
1408	1408	of the Biomedical Research Trust Fund created in section 19a-32c.] The 975
1409	1409	interest derived from any such investment shall be credited to the 976
1410	1410	resources of the fund from which the investment was made. 977
1411	1411	(2) Notwithstanding sections 3-13 to 3-13h, inclusive, the Treasurer 978
1412	1412	shall invest the amounts on deposit in the Tobacco Settlement Fund [,] 979
1413	1413	and the Tobacco and Health Trust Fund [and the Biomedical Research 980
1414	1414	Trust Fund] in a manner reasonable and appropriate to achieve the 981
1415	1415	objectives of such funds, exercising the discretion and care of a prudent 982
1416	1416	person in similar circumstances with similar objectives. The Treasurer 983
1417	1417	shall give due consideration to rate of return, risk, term or maturity, 984 Governor's Bill No. 16
1418	1418
1419	1419
1420	1420
1421	1421	LCO No. 469 38 of 40
1422	1422
1423	1423	diversification of the total portfolio within such funds, liquidity, the 985
1424	1424	projected disbursements and expenditures, and the expected payments, 986
1425	1425	deposits, contributions and gifts to be received. The Treasurer shall not 987
1426	1426	be required to invest such funds directly in obligations of the state or 988
1427	1427	any political subdivision of the state or in any investment or other fund 989
1428	1428	administered by the Treasurer. The assets of such funds shall be 990
1429	1429	continuously invested and reinvested in a manner consistent with the 991
1430	1430	objectives of such funds until disbursed in accordance with this section 992
1431	1431	[,] or section 4-28f. [or section 19a-32c.] 993
1432	1432	Sec. 22. (Effective from passage) Not later than June 30, 2025, the 994
1433	1433	Comptroller shall transfer the balance remaining in the Connecticut 995
1434	1434	Itinerant Vendors Guaranty Fund, repealed by section 5 of public act 17-996
1435	1435	75, to the General Fund. 997
1436	1436	Sec. 23. (Effective from passage) Not later than June 30, 2025, the 998
1437	1437	Comptroller shall transfer the balance remaining in the Biomedical 999
1438	1438	Research Trust Fund, created pursuant to section 19a-32c of the general 1000
1439	1439	statutes, to the General Fund. 1001
1440	1440	Sec. 24. Section 382 of public act 23-204 is repealed and the following 1002
1441	1441	is substituted in lieu thereof (Effective from passage): 1003
1442	1442	Not later than June 30, 2024, the Comptroller shall transfer [ninety-1004
1443	1443	five] one hundred forty million dollars of the resources of the General 1005
1444	1444	Fund for the fiscal year ending June 30, 2024, to be accounted for as 1006
1445	1445	revenue of the General Fund for the fiscal year ending June 30, 2025. 1007
1446	1446	Sec. 25. Section 383 of public act 23-204 is repealed and the following 1008
1447	1447	is substituted in lieu thereof (Effective from passage): 1009
1448	1448	The following amounts shall be transferred from the resources of the 1010
1449	1449	General Fund to the Municipal Revenue Sharing Fund: (1) For the fiscal 1011
1450	1450	year ending June 30, 2024, one hundred fifteen million eight hundred 1012
1451	1451	thousand dollars, and (2) for the fiscal year ending June 30, 2025, [one 1013
1452	1452	hundred four million nine] eighty-eight million six hundred thousand 1014
1453	1453	dollars. 1015 Governor's Bill No. 16
1454	1454
1455	1455
1456	1456
1457	1457	LCO No. 469 39 of 40
1458	1458
1459	1459	Sec. 26. Section 3-20i of the general statutes is repealed. (Effective from 1016
1460	1460	passage) 1017
1461	1461	Sec. 27. Section 12-18d of the general statutes is repealed. (Effective 1018
1462	1462	July 1, 2024) 1019
1463	1463	Sec. 28. Section 12-217ss of the 2024 supplement to the general 1020
1464	1464	statutes is repealed. (Effective from passage) 1021
1465	1465	Sec. 29. Section 4-66l of the 2024 supplement to the general statutes is 1022
1466	1466	repealed. (Effective July 1, 2024) 1023
1467	1467	Sec. 30. Section 19a-32c of the general statutes is repealed. (Effective 1024
1468	1468	July 1, 2025)1025
1469	1469	This act shall take effect as follows and shall amend the following
1470	1470	sections:
1471	1471
1472	1472	Section 1 July 1, 2024 20-93
1473	1473	Sec. 2 July 1, 2024 20-94(a)
1474	1474	Sec. 3 July 1, 2024 20-94a
1475	1475	Sec. 4 July 1, 2024 20-96
1476	1476	Sec. 5 July 1, 2024 20-97(a)
1477	1477	Sec. 6 July 1, 2024 19a-87b(b)(1)
1478	1478	Sec. 7 July 1, 2024 19a-87b(d) and (e)
1479	1479	Sec. 8 July 1, 2024 10-145b(l)
1480	1480	Sec. 9 from passage 3-115b
1481	1481	Sec. 10 July 1, 2024 4-66p
1482	1482	Sec. 11 July 1, 2024 12-130(a)
1483	1483	Sec. 12 July 1, 2024 12-408(1)(L)
1484	1484	Sec. 13 July 1, 2024 12-411(1)(K)
1485	1485	Sec. 14 July 1, 2024 4-66o
1486	1486	Sec. 15 June 1, 2024 8-395a(b)
1487	1487	Sec. 16 from passage New section
1488	1488	Sec. 17 from passage 12-701(a)(20)(B)
1489	1489	Sec. 18 from passage 13b-68
1490	1490	Sec. 19 from passage 3-37
1491	1491	Sec. 20 July 1, 2024 4-28e(c)
1492	1492	Sec. 21 July 1, 2025 4-28e(b)
1493	1493	Sec. 22 from passage New section Governor's Bill No. 16
1494	1494
1495	1495
1496	1496
1497	1497	LCO No. 469 40 of 40
1498	1498
1499	1499	Sec. 23 from passage New section
1500	1500	Sec. 24 from passage PA 23-204, Sec. 382
1501	1501	Sec. 25 from passage PA 23-204, Sec. 383
1502	1502	Sec. 26 from passage Repealer section
1503	1503	Sec. 27 July 1, 2024 Repealer section
1504	1504	Sec. 28 from passage Repealer section
1505	1505	Sec. 29 July 1, 2024 Repealer section
1506	1506	Sec. 30 July 1, 2025 Repealer section
1507	1507
1508	1508	Statement of Purpose:
1509	1509	To implement the Governor's budget recommendations.
1510	1510	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
1511	1511	that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
1512	1512	underlined.]
1513	1513