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CT SB00038
Bill
AI Summary
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Imposes a capital gains tax on endowment funds of higher education institutions with assets exceeding $500,000 per enrolled student in a taxable year
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Targets wealthy university endowments by establishing a per-student ratio threshold to determine tax eligibility
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Dedicates all revenue generated from the tax to reducing employee contributions to Connecticut's Paid Family and Medical Leave Insurance Program under section 31-49g
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Referred to the Finance, Revenue and Bonding Committee for consideration during the February 2026 session
Legislative Description
An Act Establishing A Capital Gains Tax On Certain Endowment Funds Of Institutions Of Higher Education And Concerning The Use Of The Revenue Generated.
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding
2/4/2026