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CT HB05118
Bill
Status
2/14/2024
Primary Sponsor
Jason Doucette
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AI Summary
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Establishes a 2% surcharge on net gains from the sale or exchange of capital assets for taxpayers whose Connecticut adjusted gross income meets or exceeds the threshold for the highest marginal income tax rate.
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Requires all revenue generated from the capital gains surcharge to be deposited into the Early Childhood Education Fund established under Connecticut General Statutes section 10-511.
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Applies only to high-income taxpayers as defined by the existing income threshold in Connecticut General Statutes section 12-700.
Legislative Description
An Act Establishing A Capital Gains Surcharge And Concerning The Use Of The Revenue Generated From Such Surcharge.
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding
2/14/2024