| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | LCO No. 1175 1 of 1 | |
| 4 | 4 | ||
| 5 | 5 | General Assembly Proposed Bill No. 385 | |
| 6 | 6 | January Session, 2025 | |
| 7 | 7 | LCO No. 1175 | |
| 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. FAZIO, 36th Dist. | |
| 16 | 16 | ||
| 17 | 17 | ||
| 18 | 18 | ||
| 19 | 19 | AN ACT ESTABLISHING A CAPITAL GAINS TAX ON CERTAIN | |
| 20 | 20 | ENDOWMENT FUNDS OF INSTITUTIONS OF HIGHER EDUCATION | |
| 21 | 21 | AND CONCERNING THE USE OF THE REVENUE GENERATED. | |
| 22 | 22 | Be it enacted by the Senate and House of Representatives in General | |
| 23 | 23 | Assembly convened: | |
| 24 | 24 | ||
| 25 | 25 | That the general statutes be amended to (1) impose a capital gains tax 1 | |
| 26 | 26 | on any endowment fund of an institution of higher education, which 2 | |
| 27 | 27 | fund is valued at a ratio of more than five hundred thousand dollars per 3 | |
| 28 | 28 | student for a taxable year, and (2) dedicate the revenue from such tax to 4 | |
| 29 | 29 | reducing the amount that participants in the Paid Family and Medical 5 | |
| 30 | 30 | Leave Insurance Program are required to contribute under section 31-6 | |
| 31 | 31 | 49g of the general statutes. 7 | |
| 32 | 32 | Statement of Purpose: | |
| 33 | 33 | To impose a capital gains tax on certain endowment funds of | |
| 34 | 34 | institutions of higher education and dedicate the revenue from such tax | |
| 35 | 35 | to reducing the amount that participants in the Paid Family and Medical | |
| 36 | 36 | Leave Insurance Program are required to contribute under section 31- | |
| 37 | 37 | 49g of the general statutes. |