Senate Bill No. 251, also known as File No. 524, is a legislative proposal that aims to make technical and other revisions to tax and related statutes, with an effective date of October 1, 2024. The bill includes amendments to Section 12-15 of the 2024 supplement to the general statutes, which pertains to the disclosure and inspection of tax returns and return information. It introduces changes such as capitalization of the word "Returns," the addition of the phrase "information on such" for clarity, and outlines specific circumstances for disclosure of tax information to various entities, including state agencies, federal offices, and in court proceedings. The bill also details security measures for handling return information, defines relevant terms, sets penalties for violations, and repeals and replaces subsection (h) of section 12-62r of the general statutes.

Additionally, SB251 File No. 524 modifies the assessment of apartment property by the Capital Region Development Authority, clarifies eligibility for tax relief for owners of residential dwellings on leased land, and allows qualified small businesses to apply for a credit refund. It revises the aggregate amount of allowable tax credits, updates procedures for collecting unpaid taxes and enforcing liens, and mandates accurate record-keeping by cigarette distributors and dealers. The bill imposes penalties for tax assessment deficiencies due to negligence or fraud, revises taxpayer hearing procedures, addresses the resale of services as part of digital goods, modifies the credit system for taxes paid by members of affected business entities, and updates retirement benefit calculations and cost of living adjustments for municipal employees. It also repeals certain sections of the general statutes and recognizes delivery services equivalent to the United States mail for legal purposes. The bill is reported to have no fiscal impact and includes corrections to statutory references and the repeal of obsolete provisions, with an effective date of October 1, 2024, except for the repealed provisions which take effect upon passage.

Statutes affected:
Raised Bill: 12-263x, 12-311
FIN Joint Favorable: 12-263x, 12-311
File No. 524: 12-263x, 12-311