Bill Text: CT SB00005 | 2012 | General Assembly | Introduced

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Bill Title: An Act Concerning A Cap On The Petroleum Gross Earnings Tax.

Spectrum: Partisan Bill (Republican 7-0)

Status: (Introduced - Dead) 2012-02-08 - Referred to Joint Committee on Finance, Revenue and Bonding [SB00005 Detail]

Download: Connecticut-2012-SB00005-Introduced.html

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General Assembly		Proposed Bill No. 5
February Session, 2012		LCO No. 29
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. SUZIO, 13th Dist.

AN ACT CONCERNING A CAP ON THE PETROLEUM GROSS EARNINGS TAX.

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

That chapter 227 of the general statutes be amended to place a cap on the petroleum gross earnings tax.

Statement of Purpose:

To prevent the state from receiving a windfall in tax revenue when gas prices rise, to reduce taxes and to slow the increase in gas prices.