Advocacy Updates
2024 Connecticut Legislative Session Wrap-Up
The CTCPA Advocacy Team compiled a legislative session summary, complete with all of the bills impacting Connecticut finance professionals and businesses.
This report was last updated on: June 16, 2024.
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Connecticut Legislative News
New CT laws taking effect July 1: School discipline, fallen officer benefits
July 01, 2024
Nearly 100 laws that the Connecticut General Assembly passed during the 2024 legislative session go into effect on July 1.
Connecticut June 2024 Special Session - Emergency Certified Bill 501 Passes House and Senate
June 28, 2024
The House adjourned Sine Die on June 27 after passing Emergency Certified Senate Bill 501 in concurrence with the Senate. The bill was immediately transmitted to the Governor, who has said he will sign it. As a reminder, although the main impetus for special session was to address a flaw with the property tax for commercial vehicles, the bill became omnibus legislation impacting a number of different areas.
General Assembly Makes Change To Bank Charters, Hopes To Spur Innovation
June 28, 2024
A bill to spur growth in the FinTech industry was part of the omnibus legislation passed by both the Senate and House during special sessions on Wednesday and Thursday.
CT savings program drives another $1 billion-plus surplus
June 27, 2024
Annual savings projected to top $800 million through 2028, even as core programs face crises.
Senate Passes Bill to Allow South Central Connecticut Regional Water Authority To Bid On Aquarion
June 26, 2024
As the state Senate met in special session on Wednesday to pass legislation to tie up loose ends from this year’s regular session, Republican senators took issue with a provision that would allow a Connecticut water utility to bid on the sale of another water utility.
Senate Passes Car Tax Fix, Waits For House To Confirm
June 26, 2024
Car taxes would be assessed differently, and at a different starting rate, after the Senate passed an omnibus bill that included language to fix a 2022 law during its special session Wednesday.
Federal Legislative News
SEC Charges Consensys Software for Unregistered Offers and Sales of Securities Through Its MetaMask Staking Service
June 28, 2024
The Securities and Exchange Commission today charged Consensys Software Inc. with engaging in the unregistered offer and sale of securities through a service it calls MetaMask Staking and with operating as an unregistered broker through MetaMask Staking and another service it calls MetaMask Swaps.
FTC Chair: New Non-Compete Agreement Rule Raises Floor, But Still Leaves Gaps
June 18, 2024
As the Federal Trade Commission prepares to enforce its ban on non-compete agreements (NCAs), the agency’s chair spoke in Hartford about some of the gaps that could still remain when the rule goes into effect.
IRS Direct File program may be cut by GOP next year
June 04, 2024
The Internal Revenue Service's plans to expand the Direct File free tax program nationwide next year could meet an early demise if Republicans gain control of Congress and the White House.
AICPA makes recommendations to IRS on next Priority Guidance Plan
May 24, 2024
The AICPA has made recommendations to the IRS on its 2024–2025 Priority Guidance Plan, including on the corporate alternative minimum tax (AMT) and group exemption letters.
NPAG recommends solutions to the talent shortage
May 14, 2024
An independent national group featuring stakeholders from throughout the accounting profession published a draft set of recommendations for tackling the talent shortage.
Feds Increase Salary Minimum for Exempt Employees
April 29, 2024
The salary threshold required to exempt a salaried executive, administrative, or professional employee from federal overtime was increased from $35,568 to $43,888 effective July 1, 2024. The salary threshold will further increase to $58,656 on Jan. 1, 2025.