Bill Text: CT SB00809 | 2013 | General Assembly | Comm Sub

Connecticut Senate Bill 809 (Prior Session Legislation)

Bill Title: An Act Allowing The Transfers Of Tax Credits To Insurance Company Affiliates.

Spectrum:

Status: (Engrossed - Dead) 2013-05-24 - House Calendar Number 649 [SB00809 Detail]

Download: Connecticut-2013-SB00809-Comm_Sub.html

General Assembly		*Substitute Bill No. 809*
*January Session, 2013*		_____SB00809FIN___050713____

AN ACT ALLOWING THE TRANSFERS OF TAX CREDITS TO INSURANCE COMPANY AFFILIATES.

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

Section 1. (NEW) (Effective July 1, 2015, and applicable to calendar years commencing on and after January 1, 2015) An insurance company or health care center, as defined in section 38a-175 of the general statutes, may transfer any credit allowed against the tax imposed by chapter 207 of the general statutes to an affiliate, as defined in section 38a-1 of the general statutes, of the insurance company or health care center. Such credit may be taken by any such affiliate only against the affiliate's tax liability imposed under chapter 207 of the general statutes. The Commissioner of Revenue Services shall not allow any credit to an affiliate against such tax liability unless the insurance company or health care center and affiliate have filed such information as may be required on forms provided by the commissioner with respect to any such transfer on or before the due date of the tax return on which such credit would have been taken by the insurance company or health care center if no transfer had been made by such insurance company or health care center.


This act shall take effect as follows and shall amend the following sections:
Section 1	July 1, 2015, and applicable to calendar years commencing on and after January 1, 2015	New section