Governor's Bill No. 16 is a comprehensive legislative proposal aimed at implementing the Governor's budget recommendations by amending various sections of the general statutes. The bill includes the elimination of fees for the licensure of nurses and advanced practice registered nurses, as well as the removal of fees for family child care home licensing and educator certificates. It also revises the Municipal Revenue Sharing Fund, setting conditions for motor vehicle property tax grants and supplemental revenue sharing grants, and introduces fiscal constraints for municipalities to limit budget expenditure increases. The bill repeals certain sections of the general statutes, such as the requirement for the Comptroller to establish an opening combined balance sheet and the Secretary of the Office of Policy and Management to publish an annual amortization schedule. New definitions for terms like "mill rate" and "municipality" are established, and the bill outlines the allocation of funds for various municipalities and districts, effective from July 1, 2024.

The bill also proposes changes to the tax code, including the repeal and replacement of provisions related to the deposit of tax revenues into the Municipal Revenue Sharing Fund and the introduction of a tax credit for cash contributions to eligible developers in opportunity zones. It amends the treatment of refunds or credits for overpayment of income taxes and interest income from state obligations. Furthermore, the bill adjusts the calculation of Connecticut adjusted gross income, affecting the inclusion of income from sources such as Holocaust victims' settlement payments and retirement pay for members of the Armed Forces. It also outlines a phased increase in the deduction for pension or annuity income based on federal adjusted gross income levels. Significant changes to the Special Transportation Fund are included, establishing it as a perpetual entity and outlining a new procedure for managing excess balances. The bill mandates the submission of a final audited report by the State Treasurer and updates the disbursement of the Tobacco Settlement Fund. Repeals and insertions affect various sections of the general statutes, with most changes taking effect on July 1, 2024, and others from the date of passage or on June 1, 2024, and July 1, 2025.

Statutes affected:
Governor's Bill: 20-93, 20-96, 4-66o, 3-37, 3-20i, 12-18d