CT SB00368

Phases out the hospitals tax over four years beginning July 1, 2014, reducing the tax to 80% in year one, 60% in year two, 40% in year three, and 20% in year four, with complete elimination on July 1, 2018.

Maintains the existing hospitals tax structure through June 30, 2014, based on net patient revenue at rates determined by the Commissioner of Social Services, with possible exemptions for outpatient services based on financial hardship.

Requires hospitals to file tax returns and make payments quarterly (January, April, July, and October) until July 1, 2018, using electronic filing and electronic funds transfer methods.

Allows the Comptroller to record hospital tax revenue as fiscal year revenue through the fiscal year ending June 30, 2018, with a five business day window after the end of July for receipt.