Bill Text: CT SB00475 | 2018 | General Assembly | Comm Sub
Bill Title: An Act Studying The Effects Of Federal Tax Reform On Hedge Funds And Investment Management Firms In This State.
Sponsorship: Committee Bill
Status: (Introduced - Dead) 2018-04-09 - File Number 343 [SB00475 Detail]
Download: Connecticut-2018-SB00475-Comm_Sub.html
General Assembly |
Substitute Bill No. 475 | |
February Session, 2018 |
*_____SB00475BA____032118____* |
AN ACT STUDYING THE EFFECTS OF FEDERAL TAX REFORM ON HEDGE FUNDS AND INVESTMENT MANAGEMENT FIRMS IN THIS STATE.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (Effective from passage) (a) There is established a task force to (1) study the effects of federal tax reform on hedge funds and investment management firms in this state, and (2) make recommendations for modification of state statutes to encourage the growth of the investment management industry in this state.
(b) The task force shall consist of the following members:
(1) Two appointed by the speaker of the House of Representatives, one of whom has expertise in federal tax law and one of whom has expertise in hedge funds and investment management;
(2) Two appointed by the president pro tempore of the Senate;
(3) One appointed by the majority leader of the House of Representatives;
(4) One appointed by the majority leader of the Senate;
(5) One appointed by the minority leader of the House of Representatives; and
(6) One appointed by the minority leader of the Senate.
(c) Any member of the task force appointed under subsection (b) of this section may be a member of the General Assembly.
(d) All appointments to the task force shall be made not later than thirty days after the effective date of this section. Any vacancy shall be filled by the appointing authority.
(e) 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.
(f) The administrative staff of the joint standing committee of the General Assembly having cognizance of matters relating to banking shall serve as administrative staff of the task force.
(g) Not later than January 1, 2019, the task force shall submit a report on its findings and recommendations to the joint standing committees of the General Assembly having cognizance of matters relating to banking, commerce and finance, revenue and bonding, in accordance with the provisions of section 11-4a of the general statutes. The task force shall terminate on the date that it submits such report or January 1, 2019, whichever is later.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
from passage |
New section |
Statement of Legislative Commissioners:
In Section 1(c), "subdivision (1), (2), (3), (4), (5) or (6) of" was deleted for clarity and conciseness.
BA |
Joint Favorable Subst. -LCO |