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CT HB06180
Bill
Status
1/29/2021
Primary Sponsor
Brian Smith
Click for details
AI Summary
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Requires the Commissioner of Revenue Services to determine interest rates annually for delinquent state taxes and overpayment repayments based on the federal funds rate effective on the second Monday of June preceding each fiscal year
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Sets the interest rate on delinquent state taxes equal to the federal funds rate plus two percentage points
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Sets the interest rate paid on overpayment repayments equal to the federal funds rate with no additional markup
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Amends Title 12 of the Connecticut General Statutes to implement these interest rate requirements
Legislative Description
An Act Concerning The Interest Rates For Delinquent State Taxes And Repayment Of Overpayments.
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding
1/29/2021