CT SB00049

Exempts small hospitals from the net patient revenue tax effective July 1, 2016, if they meet three criteria: operate independently (not part of a hospital system), have 160 or fewer beds, and had less than $35 million in annual inpatient net patient revenue in the base year.

Limits the hospital's location to a municipality that is not contiguous to any other municipality with a hospital to qualify for the exemption.

Modifies the net patient revenue tax framework by clarifying that the Commissioner of Social Services may exempt hospitals from the outpatient portion of the tax based on financial hardship, subject to federal law.

Establishes a phased-in cap on tax credits allowed against hospital-related taxes, increasing from 50.01% in 2015 to 70% in 2019 and beyond.

Requires hospitals to file quarterly returns electronically and make payments by electronic funds transfer by the last day of January, April, July, and October.