Connecticut Seal

General Assembly

 

Proposed Bill No. 76

 

February Session, 2014

 

LCO No. 400

   

Referred to Committee on COMMERCE

 

Introduced by:

 

SEN. LINARES, 33rd Dist.

REP. CARPINO, 32nd Dist.

 

AN ACT EXPANDING THE MANUFACTURING REINVESTMENT ACCOUNT PROGRAM.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to (1) eliminate the limit on the number of small manufacturers that may establish manufacturing reinvestment accounts, and (2) eliminate the tax on withdrawals from a manufacturing reinvestment account.

Statement of Purpose:

To eliminate the cap on the number of small manufacturers that may establish manufacturing reinvestment accounts and to eliminate the tax on withdrawals from such accounts.