Bill > SB00104

This bill proposes to establish a cap on the total amount of personal income tax revenue that the state can collect in a given year. Under this legislation, if the state collects more personal income tax revenue than the predetermined cap, the excess amount would be refunded to taxpayers proportionally (pro rata), meaning each taxpayer would receive a refund amount calculated based on their individual tax contribution relative to the total tax collection. The bill would amend title 12 of the general statutes to implement this new tax revenue limitation mechanism. By creating this cap, the legislation aims to provide taxpayers with potential financial relief and limit the state's total income tax collection, ensuring that any revenues beyond the established threshold are returned to the individuals who originally paid them.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00104&which_year=2025