AN ACT RESTORING THE RATE OF THE CREDIT AGAINST THE AFFECTED BUSINESS ENTITY TAX.

Plain English Breakdown

The official source does not specify why or when the rate was previously changed.

Law Restoring Business Tax Credit Rate

This law changes the rate of a tax credit for businesses back to 93.01%.

What This Bill Does

• Changes the rate of a business tax credit to 93.01%
• Applies this change to the affected business entity tax

Who It Names or Affects

• Businesses paying the affected business entity tax

Terms To Know

affected business entity tax

A specific type of tax for certain businesses

credit

An amount that reduces what a business owes in taxes

Limits and Unknowns

• The bill does not specify why the rate was changed before
• It is unclear which businesses are affected by this tax
• Does not provide details on how the change will be implemented

Official Summary Text

To restore the rate of the credit against the affected business entity tax to ninety-three and one-hundredths per cent.

Current Bill Text

LCO No. 95 1 of 1

General Assembly Proposed Bill No. 68
February Session, 2026 LCO No. 95

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
SEN. SAMPSON, 16th Dist.

AN ACT RESTORING THE RATE OF THE CREDIT AGAINST THE
AFFECTED BUSINESS ENTITY TAX.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That chapter 228z of the general statutes be amended to restore the 1
rate of the credit against the affected business entity tax to ninety -three 2
and one-hundredths per cent. 3
Statement of Purpose:
To restore the rate of the credit against the affected business entity tax
to ninety-three and one-hundredths per cent.