General Assembly |
Amendment |
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February Session, 2006 |
LCO No. 5212 | ||||
*HB0584505212HRO* | |||||
Offered by: |
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REP. ALBERTS, 50th Dist. REP. AMAN, 14th Dist. REP. BACCHIOCHI, 52nd Dist. REP. BELDEN, 113th Dist. REP. BIELAWA, 2nd Dist. REP. BOUCHER, 143rd Dist. REP. CAFERO, 142nd Dist. REP. CARON, 44th Dist. REP. CARSON, 108th Dist. REP. CHAPIN, 67th Dist. REP. D'AMELIO, 71st Dist. REP. DELGOBBO, 70th Dist. REP. FAHRBACH, 61st Dist. REP. FARR, 19th Dist. REP. FERRARI, 62nd Dist. REP. FLOREN, 149th Dist. REP. FREY, 111th Dist. REP. GIBBONS, 150th Dist. REP. GIEGLER, 138th Dist. REP. GIULIANO, 23rd Dist. REP. GOOGINS, 31st Dist. REP. GREENE, 105th Dist. REP. HAMZY, 78th Dist. REP. HARKINS, 120th Dist. REP. HEAGNEY, 16th Dist. |
REP. HETHERINGTON, 125th Dist. REP. HOVEY, 112th Dist. REP. KALINOWSKI, 100th Dist. REP. KLARIDES, 114th Dist. REP. LABRIOLA, 131st Dist. REP. MILLER, 122nd Dist. REP. MINER, 66th Dist. REP. NOUJAIM, 74th Dist. REP. O'NEILL, 69th Dist. REP. PISCOPO, 76th Dist. REP. POWERS, 151st Dist. REP. ROWE, 123rd Dist. REP. RUWET, 65th Dist. REP. RYAN, 141st Dist. REP. SAWYER, 55th Dist. REP. SCRIBNER, 107th Dist. REP. SHERER, 147th Dist. REP. STONE, 134th Dist. REP. STRIPP, 135th Dist. REP. TYMNIAK, 133rd Dist. REP. URBAN, 43rd Dist. REP. WARD, 86th Dist. REP. WASSERMAN, 106th Dist. REP. WILLIAMS, 68th Dist. REP. WINKLER, 41st Dist. | ||||
"AN ACT REQUIRING A STUDY OF BUDGETED STATE AGENCIES WITH RESPECT TO THE EXPENDITURES AND REVENUES OF SUCH AGENCIES. "
After the last section, add the following and renumber sections and internal references accordingly:
"Sec. 501. Subsection (a) of section 12-642 of the 2006 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage and applicable to calendar years commencing on or after January 1, 2006):
(a) (1) With respect to calendar years commencing prior to January 1, 2001, the tax imposed by section 12-640 for the calendar year shall be at a rate of the taxable gifts made by the donor during the calendar year set forth in the following schedule:
T1 |
Amount of Taxable Gifts |
Rate of Tax |
T2 |
Not over $ 25,000 |
1% |
T3 |
Over $ 25,000 |
$ 250, plus 2% of the excess |
T4 |
but not over $ 50,000 |
over $ 25,000 |
T5 |
Over $ 50,000 |
$ 750, plus 3% of the excess |
T6 |
but not over $ 75,000 |
over $ 50,000 |
T7 |
Over $ 75,000 |
$ 1,500, plus 4% of the excess |
T8 |
but not over $ 100,000 |
over $ 75,000 |
T9 |
Over $ 100,000 |
$ 2,500, plus 5% of the excess |
T10 |
but not over $ 200,000 |
over $ 100,000 |
T11 |
Over $ 200,000 |
$ 7,500, plus 6% of the excess |
T12 |
over $ 200,000 |
(2) With respect to the calendar years commencing January 1, 2001, January 1, 2002, January 1, 2003, and January 1, 2004, the tax imposed by section 12-640 for each such calendar year shall be at a rate of the taxable gifts made by the donor during the calendar year set forth in the following schedule:
T13 |
Amount of Taxable Gifts |
Rate of Tax |
T14 |
Over $ 25,000 |
$ 250, plus 2% of the excess |
T15 |
but not over $ 50,000 |
over $ 25,000 |
T16 |
Over $ 50,000 |
$ 750, plus 3% of the excess |
T17 |
but not over $ 75,000 |
over $ 50,000 |
T18 |
Over $ 75,000 |
$ 1,500, plus 4% of the excess |
T19 |
but not over $ 100,000 |
over $ 75,000 |
T20 |
Over $ 100,000 |
$ 2,500, plus 5% of the excess |
T21 |
but not over $ 675,000 |
over $ 100,000 |
T22 |
Over $ 675,000 |
$ 31,250, plus 6% of the excess |
T23 |
over $ 675,000 |
(3) (A) With respect to Connecticut taxable gifts, as defined in section 12-643, as amended, made by a donor during [a] the calendar year commencing [on or after] January 1, 2005, [including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005,] the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision:
T24 |
Amount of Taxable Gifts |
Rate of Tax |
T25 |
Not over $ 2,000,000 |
None |
T26 |
Over $ 2,000,000 |
|
T27 |
but not over $ 2,100,000 |
5. 085% of the excess over $ 0 |
T28 |
Over $ 2,100,000 |
$ 106,800 plus 8% of the excess |
T29 |
but not over $ 2,600,000 |
over $ 2,100,000 |
T30 |
Over $ 2,600,000 |
$ 146,800 plus 8. 8% of the excess |
T31 |
but not over $ 3,100,000 |
over $ 2,600,000 |
T32 |
Over $ 3,100,000 |
$ 190,800 plus 9. 6% of the excess |
T33 |
but not over $ 3,600,000 |
over $ 3,100,000 |
T34 |
Over $ 3,600,000 |
$ 238,800 plus 10. 4% of the excess |
T35 |
but not over $ 4,100,000 |
over $ 3,600,000 |
T36 |
Over $ 4,100,000 |
$ 290,800 plus 11. 2% of the excess |
T37 |
but not over $ 5,100,000 |
over $ 4,100,000 |
T38 |
Over $ 5,100,000 |
$ 402,800 plus 12% of the excess |
T39 |
but not over $ 6,100,000 |
over $ 5,100,000 |
T40 |
Over $ 6,100,000 |
$ 522,800 plus 12. 8% of the excess |
T41 |
but not over $ 7,100,000 |
over $ 6,100,000 |
T42 |
Over $ 7,100,000 |
$ 650,800 plus 13. 6% of the excess |
T43 |
but not over $ 8,100,000 |
over $ 7,100,000 |
T44 |
Over $ 8,100,000 |
$ 786,800 plus 14. 4% of the excess |
T45 |
but not over $ 9,100,000 |
over $ 8,100,000 |
T46 |
Over $ 9,100,000 |
$ 930,800 plus 15. 2% of the excess |
T47 |
but not over $ 10,100,000 |
over $ 9,100,000 |
T48 |
Over $ 10,100,000 |
$ 1,082,800 plus 16% of the excess |
T49 |
over $ 10,100,000 |
(B) With respect to Connecticut taxable gifts, as defined in section 12-643, as amended, made by a donor during the calendar year commencing on or after January 1, 2006, including the aggregate amount of all Connecticut taxable gifts made by the donor during the calendar year commencing January 1, 2005, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision:
T50 |
Amount of Taxable Gifts |
Rate of Tax |
T51 |
Not over $2,000,000 |
None |
T52 |
Over $2,000,000 |
5.085% of the excess |
T53 |
but not over $2,100,000 |
over $2,000,000 |
T54 |
Over $2,100,000 |
$5,085 plus 8% of the excess |
T55 |
but not over $2,600,000 |
over $2,100,000 |
T56 |
Over $2,600,000 |
$45,085 plus 8.8% of the excess |
T57 |
but not over $3,100,000 |
over $2,600,000 |
T58 |
Over $3,100,000 |
$89,085 plus 9.6% of the excess |
T59 |
but not over $3,600,000 |
over $3,100,000 |
T60 |
Over $3,600,000 |
$137,085 plus 10.4% of the excess |
T61 |
but not over $4,100,000 |
over $3,600,000 |
T62 |
Over $4,100,000 |
$189,085 plus 11.2% of the excess |
T63 |
but not over $5,100,000 |
over $4,100,000 |
T64 |
Over $5,100,000 |
$245,085 plus 12% of the excess |
T65 |
but not over $6,100,000 |
over $5,100,000 |
T66 |
Over $6,100,000 |
$365,085 plus 12.8% of the excess |
T67 |
but not over $7,100,000 |
over $6,100,000 |
T68 |
Over $7,100,000 |
$493,085 plus 13.6% of the excess |
T69 |
but not over $8,100,000 |
over $7,100,000 |
T70 |
Over $8,100,000 |
$629,085 plus 14.4% of the excess |
T71 |
but not over $9,100,000 |
over $8,100,000 |
T72 |
Over $9,100,000 |
$773,085 plus 15.2% of the excess |
T73 |
but not over $10,100,000 |
over $9,100,000 |
T74 |
Over $10,100,000 |
$925,085 plus 16% of the excess |
T75 |
over $10,100,000 |
Sec. 502. Subsection (g) of section 12-391 of the 2006 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage and applicable to estates of decedents dying on or after January 1, 2005):
(g) (1) With respect to the estates of decedents dying [on or after January 1, 2005] during 2005, the tax based on the Connecticut taxable estate shall be as provided in the following schedule:
T76 |
Amount of Connecticut |
|
T77 |
Taxable Estate |
Rate of Tax |
T78 |
Not over $ 2,000,000 |
None |
T79 |
Over $ 2,000,000 |
|
T80 |
but not over $ 2,100,000 |
5. 085% of the excess over $ 0 |
T81 |
Over $ 2,100,000 |
$ 106,800 plus 8% of the excess |
T82 |
but not over $ 2,600,000 |
over $ 2,100,000 |
T83 |
Over $ 2,600,000 |
$ 146,800 plus 8. 8% of the excess |
T84 |
but not over $ 3,100,000 |
over $ 2,600,000 |
T85 |
Over $ 3,100,000 |
$ 190,800 plus 9. 6% of the excess |
T86 |
but not over $ 3,600,000 |
over $ 3,100,000 |
T87 |
Over $ 3,600,000 |
$ 238,800 plus 10. 4% of the excess |
T88 |
but not over $ 4,100,000 |
over $ 3,600,000 |
T89 |
Over $ 4,100,000 |
$ 290,800 plus 11. 2% of the excess |
T90 |
but not over $ 5,100,000 |
over $ 4,100,000 |
T91 |
Over $ 5,100,000 |
$ 402,800 plus 12% of the excess |
T92 |
but not over $ 6,100,000 |
over $ 5,100,000 |
T93 |
Over $ 6,100,000 |
$ 522,800 plus 12. 8% of the excess |
T94 |
but not over $ 7,100,000 |
over $ 6,100,000 |
T95 |
Over $ 7,100,000 |
$ 650,800 plus 13. 6% of the excess |
T96 |
but not over $ 8,100,000 |
over $ 7,100,000 |
T97 |
Over $ 8,100,000 |
$ 786,800 plus 14. 4% of the excess |
T98 |
but not over $ 9,100,000 |
over $ 8,100,000 |
T99 |
Over $ 9,100,000 |
$ 930,800 plus 15. 2% of the excess |
T100 |
but not over $ 10,100,000 |
over $ 9,100,000 |
T101 |
Over $ 10,100,000 |
$ 1,082,800 plus 16% of the excess |
T102 |
over $ 10,100,000 |
(2) With respect to the estates of decedents dying during 2006, the tax based on the Connecticut taxable estate shall be as provided in the following schedule:
T103 |
Amount of Connecticut |
|
T104 |
Taxable Estate |
Rate of Tax |
T105 |
Not over $2,000,000 |
None |
T106 |
Over $2,000,000 |
5.085% of the excess |
T107 |
but not over $2,100,000 |
over $2,000,000 |
T108 |
Over $2,100,000 |
$5,085 plus 8% of the excess |
T109 |
but not over $2,600,000 |
over $2,100,000 |
T110 |
Over $2,600,000 |
$45,085 plus 8.8% of the excess |
T111 |
but not over $3,100,000 |
over $2,600,000 |
T112 |
Over $3,100,000 |
$89,085 plus 9.6% of the excess |
T113 |
but not over $3,600,000 |
over $3,100,000 |
T114 |
Over $3,600,000 |
$137,085 plus 10.4% of the excess |
T115 |
but not over $4,100,000 |
over $3,600,000 |
T116 |
Over $4,100,000 |
$189,085 plus 11.2% of the excess |
T117 |
but not over $5,100,000 |
over $4,100,000 |
T118 |
Over $5,100,000 |
$245,085 plus 12% of the excess |
T119 |
but not over $6,100,000 |
over $5,100,000 |
T120 |
Over $6,100,000 |
$365,085 plus 12.8% of the excess |
T121 |
but not over $7,100,000 |
over $6,100,000 |
T122 |
Over $7,100,000 |
$493,085 plus 13.6% of the excess |
T123 |
but not over $8,100,000 |
over $7,100,000 |
T124 |
Over $8,100,000 |
$629,085 plus 14.4% of the excess |
T125 |
but not over $9,100,000 |
over $8,100,000 |
T126 |
Over $9,100,000 |
$773,085 plus 15.2% of the excess |
T127 |
but not over $10,100,000 |
over $9,100,000 |
T128 |
Over $10,100,000 |
$925,085 plus 16% of the excess |
T129 |
over $10,100,000" |