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Bill > HB05106
CT HB05106
CT HB05106An Act Concerning A Pay Ratio Corporation Income Tax On Publicly Traded Companies.
summary
Introduced
02/14/2018
02/14/2018
In Committee
02/14/2018
02/14/2018
Crossed Over
Passed
Dead
05/09/2018
05/09/2018
Introduced Session
2018 General Assembly
Bill Summary
To replace the current corporation income tax on publicly traded corporations with a corporation income tax rate based on a pay ratio scale.
AI Summary
This bill proposes to replace the current corporation income tax on publicly traded corporations with a new tax rate structure based on the ratio between the corporation's highest-paid employee and the median compensation level of its employees. The new tax rates would be as follows: 5% for a pay ratio of 25:1 or less, 7.5% for a ratio greater than 25:1 up to and including 100:1, 10% for a ratio greater than 100:1 up to and including 250:1, and 25% for a ratio greater than 250:1. This change is intended to incentivize publicly traded corporations to reduce the pay gap between their highest-paid and median-level employees.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding (on 02/14/2018)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05106&which_year=2018 |
| BillText | http://www.cga.ct.gov/2018/TOB/h/2018HB-05106-R00-HB.htm |
| Bill | http://www.cga.ct.gov/2018/TOB/h/2018HB-05106-R00-HB.pdf |
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