CT SB00475

Establishes a task force to study the effects of federal tax reform on hedge funds and investment management firms in the state and recommend state statutory modifications to encourage industry growth

Task force composition includes eight members appointed by legislative leaders: two by the House Speaker (one with federal tax law expertise, one with hedge fund/investment management expertise), two by the Senate President Pro Tempore, and one each by the House Majority Leader, Senate Majority Leader, House Minority Leader, and Senate Minority Leader

All task force appointments must be made within 30 days of the act's effective date, with vacancies filled by the appointing authority

First task force meeting must be held no later than 60 days after the act's effective date

Task force must submit findings and recommendations to the joint standing committees on banking, commerce and finance, and revenue and bonding by January 1, 2019, at which time the task force terminates