Connecticut Seal

General Assembly

Amendment

 

June 12 Special Session, 2012

LCO No. 5820

   
 

*HB0600105820SRO*

Offered by:

 

SEN. SUZIO, 13th Dist.

 

To: House Bill No. 6001

File No.

Cal. No.

(As Amended)

After the last section, add the following and renumber sections and internal references accordingly:

"Sec. 501. (Effective from passage) Notwithstanding the provisions of subsections (b) and (c) of section 12-587 of the general statutes, the rate of tax imposed on gross earnings derived from the first sale of gasoline or gasohol within this state, or from consideration given or contracted to be given for gasoline or gasohol for sale, use or consumption in this state, shall be two per cent from July 1, 2012, to August 31, 2012, inclusive.

Sec. 502. Subsection (a) of section 12-704e of the 2012 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage and applicable to taxable years commencing on or after January 1, 2012):

(a) Any resident of this state, as defined in subdivision (1) of subsection (a) of section 12-701, who is subject to the tax imposed under this chapter for any taxable year shall be allowed a credit against the tax otherwise due under this chapter in an amount equal to thirty per cent of the earned income credit claimed and allowed for the same taxable year under Section 32 of the Internal Revenue Code, as defined in subsection (a) of section 12-701, provided for the taxable year commencing January 1, 2012, the credit allowed by this section shall be in an amount equal to fifteen per cent of the earned income credit claimed and allowed for the same taxable year under said Section 32. "

This act shall take effect as follows and shall amend the following sections:

Sec. 501

from passage

New section

Sec. 502

from passage and applicable to taxable years commencing on or after January 1, 2012

12-704e(a)