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CT HB05422

Bill

Official Source

Status

Introduced

1/17/2023

Primary Sponsor

Joshua Elliott

Click for details

Origin

House of Representatives

2023 General Assembly

AI Summary

  • Creates an interstate compact to reclassify net profits of investment funds as ordinary income rather than investment profits subject to capital gains tax
  • Applies specifically to profits attributable to investment management services performed by fund managers
  • Referred to the Committee on Finance, Revenue and Bonding
  • Introduced by 13 legislators including representatives and senators from Connecticut's General Assembly during the January 2023 session

Legislative Description

An Act Concerning The Creation Of An Interstate Compact For The Tax Treatment Of Investment Fund Net Profits Attributable To Certain Investment Management Services.

Last Action

Public Hearing 02/27

2/17/2023

Committee Referrals

Finance, Revenue and Bonding1/17/2023

Full Bill Text

No bill text available