AN ACT ESTABLISHING A CAP ON THE AGGREGATE AMOUNT OF PERSONAL INCOME TAX REVENUE THE STATE MAY COLLECT.

Plain English Breakdown

The exact amount of the cap is not specified, leaving room for future legislation or regulations to determine this limit.

Setting a Limit on State Income Tax

This act sets a limit on how much money the state can get from personal income taxes and requires any extra tax collected over this limit to be refunded to taxpayers.

What This Bill Does

• Sets a maximum amount of money the state can collect in personal income taxes each year.
• Requires the state to give back any extra tax collected over this limit to taxpayers on a pro rata basis.

Who It Names or Affects

• Taxpayers who pay personal income taxes in the state.
• The state government, which collects these taxes.

Terms To Know

Cap

A limit or maximum amount that something can reach.

Pro rata basis

Dividing something fairly based on each person's share of the total, like giving back extra tax money in proportion to how much tax was paid.

Limits and Unknowns

• The exact amount of the cap is not specified and would need to be determined by further legislation or regulations.
• It is unclear how this act will affect state budgeting and spending decisions.

Official Summary Text

To establish a cap on the amount of aggregate personal income tax revenue that the state may collect, with any amount collected in excess of such cap to be refunded to taxpayers on a pro rata basis.

Current Bill Text

LCO No. 123 1 of 1

General Assembly Proposed Bill No. 67
February Session, 2026 LCO No. 123

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
SEN. GORDON, 35th Dist.

AN ACT ESTABLISHING A CAP ON THE AGGREGATE AMOUNT OF
PERSONAL INCOME TAX REVENUE THE STATE MAY COLLECT.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That title 12 of the general statutes be amended to establish a cap on 1
the amount of aggregate personal income tax revenue that the state may 2
collect, with any amount collected in excess of such cap to be refunded 3
to taxpayers on a pro rata basis. 4
Statement of Purpose:
To establish a cap on the amount of aggregate personal income tax
revenue that the state may collect, with any amount collected in excess
of such cap to be refunded to taxpayers on a pro rata basis.