Bill Text: CT HB05438 | 2010 | General Assembly | Comm Sub

Connecticut House Bill 5438 (Prior Session Legislation)

Bill Title: An Act Studying The Effect Of The Repeal Of The Corporation Business Tax.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2010-03-23 - Favorable Change of Reference, Senate to Committee on Finance, Revenue and Bonding [HB05438 Detail]

Download: Connecticut-2010-HB05438-Comm_Sub.html


General Assembly		*Raised Bill No. 5438*
*February Session, 2010*		LCO No. 1759
		_____HB05438CE_FIN031910____
Referred to Committee on Commerce
Introduced by:
(CE)

AN ACT STUDYING THE EFFECT OF THE REPEAL OF THE CORPORATION BUSINESS TAX.

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

Section 1. (Effective July 1, 2010) (a) There is established a task force to study the outcome of the repeal of the corporation business tax imposed under chapter 208 of the general statutes and to make recommendations for modification of state taxation statutes to encourage the growth of business and industry in the state.

(b) The task force shall consist of seven members who shall be corporate executives, economists, manufacturers and any other representative interests deemed appropriate by the appointing authority: (1) One member shall be appointed by the speaker of the House of Representatives; (2) one member shall be appointed by the president pro tempore of the Senate; (3) one member shall be appointed by the majority leader of the House of Representatives; (4) one member shall be appointed by the majority leader of the Senate; (5) one member shall be appointed by the minority leader of the House of Representatives; (6) one member shall be appointed by the minority leader of the Senate; and (7) one member shall be appointed by the Governor.

(c) All appointments of task force members shall be made not later than thirty days after the effective date of this section. Any vacancy shall be filled by the appointing authority.

(d) The speaker of the House of Representatives and the president pro tempore of the Senate shall select the chairpersons of the task force from among the members of the task force. Such chairpersons shall schedule the first meeting of the task force, which shall be held not later than sixty days after the effective date of this section.

(e) The members of the task force shall serve without compensation but shall be reimbursed for actual expenses incurred while engaged in the duties of the task force.

(f) The administrative staff of the joint standing committee of the General Assembly having cognizance of matters relating to commerce shall serve as administrative staff of the task force.

(g) Not later than February 1, 2011, the task force shall submit a report on its findings and recommendations to the joint standing committee of the General Assembly having cognizance of matters relating to commerce, in accordance with the provisions of section 11-4a of the general statutes.