Bill Text: CT SB00164 | 2012 | General Assembly | Introduced
Bill Title: An Act Concerning A Small Business Reinvestment Account.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2012-02-21 - Referred to Joint Committee on Commerce [SB00164 Detail]
Download: Connecticut-2012-SB00164-Introduced.html
General Assembly |
Proposed Bill No. 164 |
||||
February Session, 2012 |
LCO No. 608 | ||||
Referred to Committee on Commerce |
|||||
Introduced by: |
|||||
SEN. MCKINNEY, 28th Dist. SEN. FASANO, 34th Dist. |
|||||
AN ACT CONCERNING A SMALL BUSINESS REINVESTMENT ACCOUNT.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to provide a deferral on taxes owed by a small business by allowing such small business to deposit funds in an account, which funds, upon withdrawal, shall be used for capital expenses and worker training and shall be subject to one-half the rate of tax.
Statement of Purpose:
To assist small businesses by allowing them to defer taxes on income that is set aside and used for capital expenses and worker training.