Connecticut Seal

General Assembly

File No. 708

    January Session, 2013

Substitute Senate Bill No. 843

Senate, May 6, 2013

The Committee on Finance, Revenue and Bonding reported through SEN. FONFARA of the 1st Dist., Chairperson of the Committee on the part of the Senate, that the substitute bill ought to pass.

T1

 

Fiscal Year

Annual Transfer

T2

     

T3

 

2007

$141,000,000

T4

 

2008

$127,800,000

T5

 

2009

$141,900,000

T6

 

2010

$141,900,000

T7

 

2011

$165,300,000

T8

 

2012

$226,900,000

T9

 

2013

$199,400,000

T10

 

2014

[$222,700,000] $380,700,000

T11

 

2015

[$226,800,000] $379,100,000

T12

 

2016 and thereafter

[$231,400,000] $377,300,000

This act shall take effect as follows and shall amend the following sections:

Section 1

July 1, 2013

New section

Sec. 2

July 1, 2013

4-28e(c)

Sec. 3

from passage and applicable to calendar years commencing on or after January 1, 2013

12-211a(a)

Sec. 4

from passage

12-214(b)(7)

Sec. 5

from passage

12-219(b)(7)

Sec. 6

July 1, 2013, and applicable to sales occurring on or after said date

12-407(a)(2)

Sec. 7

July 1, 2013, and applicable to sales occurring on or after said date

12-407(a)

Sec. 8

July 1, 2013

12-408(1)

Sec. 9

July 1, 2013

12-411(1)

Sec. 10

from passage

12-633

Sec. 11

from passage

12-635

Sec. 12

from passage and applicable to taxable years commencing on or after January 1, 2013

12-704e

Sec. 13

July 1, 2013

13b-61a

Sec. 14

July 1, 2013

13b-61c

Sec. 15

January 1, 2014

32-9t(i)(1)

Sec. 16

October 1, 2013

12-81

Sec. 17

July 1, 2013

New section

Sec. 18

from passage

New section

Sec. 19

July 1, 2013

7-34a(a)

Sec. 20

July 1, 2013

7-73

Sec. 21

July 1, 2013

19a-323(b)

Sec. 22

July 1, 2013

30-53

Sec. 23

July 1, 2013

New section

Sec. 24

July 1, 2013

New section

Sec. 25

July 1, 2013

New section

Sec. 26

July 1, 2013

New section

Sec. 27

July 1, 2013

New section

Sec. 28

July 1, 2013

Repealer section

FIN

Joint Favorable Subst.

 

State Revenue Impact

($ - millions)

Section Number

Change Description

FY 14

FY 15

Section 1

Tax Amnesty

35.0

(7.0)

Section 2

Divert Stem Cell Transfer and Biomedical Trust Fund Transfer

14.0

14.0

Section 3

Maintain Credit Cap for IY 13 & 14

27.0

27.0

Sections 4-5

Maintain 20% Surcharge for IY 14 & 15

44.4

74.0

Sections 6-7

Digital Products Taxed at 6.35%

7.7

9.0

Sections 8-9, 28

Eliminate MRSA Transfer

92.4

97.9

Sections 8-9

Computer/Data Processing Services to Consumers Taxed at 6.35%

12.8

13.1

Sections 8-9

60-Day Use Tax Exemption for Boats

(2.0)

(2.0)

Sections 8-9

Eliminate Luxury Tax on Boats

(0.1)

(0.1)

Section 10-11

Neighborhood Assistance Act

-

-

Section 12

Reduce EITC

21.1

11.0

Sections 13-14, 26-27

STF Transfers

77.3

3.4

Section 15

Increase URA Tax Credits

-

-

Section 16

Motor Vehicle Property Tax Elimination

-

-

Section 17

Incentivize Natural Gas Conversion

-

(5.0)

Section 18

Standard Offer Auction

100.0

-

Sections 19-22

Minor Fees

0.7

0.8

Section 23

CRRA Transfer

30.0

-

Sections 24-25

Public Education and Governmental Programming Account Transfer

3.4

3.5

TOTAL

463.7

239.6

Inter-fund Transfers between General and Transportation Funds

($ - millions)

   

FY 14

FY 15

Section

Reason

GF

STF

GF

STF

13

Adjust Transfer to include all estimated Petroleum Gross Receipt Tax Revenues from Gasoline

(158.0)

158.0

(152.3)

152.3

14

Adjust Statutory Transfers, which offset Transfers above

172.8

(172.8)

152.3

(152.3)

26 - 27

Implement Transfers in FY 14 and FY 15 only

62.5

(62.5)

3.4

(3.4)

 

Net Total

77.3

(77.3)

3.4

(3.4)

Municipality

Anticipated Revenue Gain

Waterbury

$34,000

West Hartford

$16,600

Groton

$8,000

Thompson

$2,700

FY

Transfers from Petroleum Products Gross Earnings Tax Revenues to STF

Annual Transfers from the General Fund to STF

One-Time Transfers from STF to the General Fund

Current Law

Bill

Difference

Current Law

Bill

Difference

Bill

2014

$222.7

$380.7

$158.0

$172.8

0

($172.8)

$62.5

2015

226.8

379.1

152.3

172.8

$20.5

(152.3)

3.4

2016

231.4

377.3

145.9

172.8

152.8

(20.0)

0

2017 and thereafter

231.4

377.3

145.9

172.8

162.8

(10)

0

CGS §

Fee

Current Fee

Proposed Fee

30-53

Liquor Permit Filing

$2.00

$20.00

7-34a

Miscellaneous Document Filing

5.00

10.00

7-34a

Map Indexing

5.00

10.00

7-34a

Subdivision Map Indexing

15.00

20.00

7-34a

Notary Public: Oath and Commission Filing

10.00

20.00

7-34a

Notary Public: Character Certification

2.00

5.00

7-73

Marriage License Fee

30.00

(Municipality keeps $11.00 and the state receives $19.00)

50.00

($25.00 for the municipality and $25.00 for the state)

7-73

Burial or Burial Transit Removal/Disinterment Permit

3.00

10.00

19a-323

Cremation Permit

3.00

10.00

Credit Types Claimed

Order of Applying Credits

Maximum Reduction In Tax Liability

Type 3

None

30%

Types 1 & 3

1. Type 3

2. Type 1

Type 3 = 30%

Sum of two types = 55%

Types 2 & 3

1. Type 3

2. Type 2

Type 3 = 30%

Sum of two types = 70%

Types 1, 2, & 3

1. Type 3

2. Type 1

3. Type 2

Type 3 = 30%

Type 1 + Type 3 = 55%

Sum of all types = 70%

Types 1 & 2

1. Type 1

2. Type 2

Type 1 = 55%

Sum of two types = 70%

Yea

31

Nay

17

(04/19/2013)

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