Bill Text: CT HB05550 | 2011 | General Assembly | Introduced
Bill Title: An Act Concerning A Tax Incidence Analysis In Accordance With National Conference Of State Legislature Principles For High-quality Tax Systems.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2011-01-20 - Referred to Joint Committee on Finance, Revenue and Bonding [HB05550 Detail]
Download: Connecticut-2011-HB05550-Introduced.html
General Assembly |
Proposed Bill No. 5550 |
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January Session, 2011 |
LCO No. 1022 | ||||
Referred to Committee on Finance, Revenue and Bonding |
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Introduced by: |
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REP. REYNOLDS, 42nd Dist. |
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AN ACT CONCERNING A TAX INCIDENCE ANALYSIS IN ACCORDANCE WITH NATIONAL CONFERENCE OF STATE LEGISLATURE PRINCIPLES FOR HIGH-QUALITY TAX SYSTEMS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to mandate that the Office of Fiscal Analysis conduct a tax incidence analysis every five years, beginning in fiscal year 2012, to measure the performance of the state's local and state tax infrastructure in terms of achieving the following principles of high-quality tax systems established by the National Conference of State Legislatures. Those principles are that a tax system should: (1) Be aligned with the state's long-term, strategic goals; (2) ensure stability, reliability and sufficiency; (3) improve equity and fairness and minimize regressivity; (4) diversify and balance revenue streams; (5) complement local government revenue systems; (6) be responsive to interstate and international competition; (7) be transparent and accountable to taxpayers; and (8) broaden the tax base to reduce tax rates.
Statement of Purpose:
To evaluate the performance of the local and state tax infrastructure.