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CT SB00065

Bill

Official Source

Status

Introduced

2/15/2022

Primary Sponsor

Ryan Fazio

Click for details

Origin

Senate

2022 General Assembly

AI Summary

  • Establishes a state tax on endowment assets of institutions of higher education where endowment assets exceed $500,000 per student

  • Tax rate equals the federal tax rate imposed on such endowment assets

  • Revenue from the tax is dedicated to reimbursing employees who contribute to the Family and Medical Leave Insurance Trust Fund under section 31-49g of general statutes

  • Referred to Committee on Finance, Revenue and Bonding

  • Introduced by Senator Fazio, 36th District, for the February 2022 session

Legislative Description

An Act Establishing A Tax On The Endowment Assets Of Certain Institutions Of Higher Education And Concerning The Use Of Such Revenue.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

2/15/2022

Committee Referrals

Finance, Revenue and Bonding2/15/2022

Full Bill Text

No bill text available