Page 648

House Bill No. 5506

Public Act No. 22-118 648 of 739

limited to, entering into an agreement with a third party to manage the program; the design, collection and analysis of required data on outcome measures as prescribed by the office; and the development of data collection and evaluation tools for continuous program evaluation. Sec. 460. Section 12-7c of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022): (a) The Commissioner of Revenue Services shall, on or before [February 15, 2022] December 15, 2023, and biennially thereafter, submit to the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding, and post on the department's Internet web site a report on the overall incidence of the income tax, sales and excise taxes, the corporation business tax and property tax, for each of the most recent ten tax years for which complete data are available. The report shall include incidence projections for each such tax and shall present information on the distribution of the tax burden as follows: (1) For individuals: (A) Income classes, including income distribution expressed for (i) every ten percentage points, (ii) the top five per cent of all income taxpayers, and (iii) the top one per cent of all income taxpayers; and (B) Other appropriate taxpayer characteristics, as determined by said commissioner. (2) For businesses: (A) Business size as established by gross receipts; (B) Legal organization; and (C) Industry by NAICS code.

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Page 648

Official source

House Bill No. 5506

Public Act No. 22-118 648 of 739

limited to, entering into an agreement with a third party to manage the program; the design, collection and analysis of required data on outcome measures as prescribed by the office; and the development of data collection and evaluation tools for continuous program evaluation. Sec. 460. Section 12-7c of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022): (a) The Commissioner of Revenue Services shall, on or before [February 15, 2022] December 15, 2023, and biennially thereafter, submit to the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding, and post on the department's Internet web site a report on the overall incidence of the income tax, sales and excise taxes, the corporation business tax and property tax, for each of the most recent ten tax years for which complete data are available. The report shall include incidence projections for each such tax and shall present information on the distribution of the tax burden as follows: (1) For individuals: (A) Income classes, including income distribution expressed for (i) every ten percentage points, (ii) the top five per cent of all income taxpayers, and (iii) the top one per cent of all income taxpayers; and (B) Other appropriate taxpayer characteristics, as determined by said commissioner. (2) For businesses: (A) Business size as established by gross receipts; (B) Legal organization; and (C) Industry by NAICS code.