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

Plain English Breakdown

The bill status shows it was referred to committee on February 4, 2026, but no effective date is provided in the source material.

Restoring the Credit Rate for Affected Business Entity Tax

This bill changes state law to restore a specific credit rate of 93.01% against the affected business entity tax.

What This Bill Does

• Amends chapter 228z of the general statutes.
• Restores the rate of the credit against the affected business entity tax to ninety-three and one-hundredths percent.

Terms To Know

Affected Business Entity Tax

A tax mentioned in chapter 228z of the general statutes that has a credit rate applied to it.

Credit against a tax

An amount used to reduce the total tax owed, as referenced by the bill's title and purpose.

Limits and Unknowns

• The official text does not state when this change will take effect.
• The source material states it restores a rate but does not explain what previous rate is being replaced or why the restoration is needed.

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.