# Connecticut SB 00038: AN ACT ESTABLISHING A CAPITAL GAINS TAX ON CERTAIN ENDOWMENT FUNDS OF INSTITUTIONS OF HIGHER EDUCATION AND CONCERNING THE USE OF THE REVENUE GENERATED.

Connecticut SB 00038, AN ACT ESTABLISHING A CAPITAL GAINS TAX ON CERTAIN ENDOWMENT FUNDS OF INSTITUTIONS OF HIGHER EDUCATION AND CONCERNING THE USE OF THE REVENUE GENERATED., is a 2026 Regular Session Senate bill sponsored by Ryan Fazio (Republican); status failed, last action 2026-02-04 (Referred to Joint Committee on Finance, Revenue and Bonding) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/CT-SB00038-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Connecticut SB 00038
- State: Connecticut
- Session: 2026 Regular Session
- Title: AN ACT ESTABLISHING A CAPITAL GAINS TAX ON CERTAIN ENDOWMENT FUNDS OF INSTITUTIONS OF HIGHER EDUCATION AND CONCERNING THE USE OF THE REVENUE GENERATED.
- Status: failed
- Chamber: Senate
- Introduced: 2026-02-04
- Last action: 2026-02-04, Referred to Joint Committee on Finance, Revenue and Bonding
- Sponsor: Ryan Fazio (Republican)
- Cosponsors: 0
- Subjects: finance, revenue and bonding
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

To impose a capital gains tax on certain endowment funds of institutions of higher education and dedicate the revenue from such tax to reducing the amount that participants in the Paid Family and Medical Leave Insurance Program are required to contribute under section 31-49g of the general statutes.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Ryan Fazio (Republican), Senate

## Actions (1)

- 2026-02-04: Referred to Joint Committee on Finance, Revenue and Bonding (legislature)

## Bill text

- Proposed Bill, 2026-02-04: [PDF](https://www.cga.ct.gov/2026/TOB/S/PDF/2026SB-00038-R00-SB.PDF)

## Related bills

- HB 05563: AN ACT CONCERNING VARIOUS CRIMINAL LAW AND CRIMINAL JUSTICE PROPOSALS, CERTIFICATES OF APPROVAL FOR AIRPORTS, HELIPORTS, VERTIPORTS, RESTRICTED LANDING AREAS A… (signed)
- HB 05509: AN ACT CONCERNING JUSTICES OF THE PEACE. (signed)
- HB 05518: AN ACT CONCERNING THE DEPARTMENT OF PUBLIC HEALTH'S RECOMMENDATIONS REGARDING SUBSURFACE SEWAGE ENFORCEMENT OFFICERS, WATER OPERATOR APPRENTICES AND VARIOUS RE… (signed)
- HB 05442: AN ACT CONCERNING THE PROPERTY TAX EXEMPTION FOR AND TAX AGREEMENTS RELATED TO CERTAIN CLASS I RENEWABLE ENERGY SOURCES. (signed)
- HB 05349: AN ACT CONCERNING A POLICE OFFICER TRAINING PROGRAM AND THE ROUNDING OF CERTAIN CASH PURCHASES. (signed)
- HB 05340: AN ACT CONCERNING RENEWABLE POWER GENERATION. (signed)

## Sources
- [Proposed Bill (PDF)](https://www.cga.ct.gov/2026/TOB/S/PDF/2026SB-00038-R00-SB.PDF)

## Related
- [HB 05563: AN ACT CONCERNING VARIOUS CRIMINAL LAW AND CRIMINAL JUSTICE PROPOSALS, CERTIFIC…](https://policyrisk.com/state-bill/CT-HB05563-2026)
- [HB 05509: AN ACT CONCERNING JUSTICES OF THE PEACE.](https://policyrisk.com/state-bill/CT-HB05509-2026)
- [HB 05518: AN ACT CONCERNING THE DEPARTMENT OF PUBLIC HEALTH'S RECOMMENDATIONS REGARDING S…](https://policyrisk.com/state-bill/CT-HB05518-2026)
- [HB 05442: AN ACT CONCERNING THE PROPERTY TAX EXEMPTION FOR AND TAX AGREEMENTS RELATED TO…](https://policyrisk.com/state-bill/CT-HB05442-2026)
- [HB 05349: AN ACT CONCERNING A POLICE OFFICER TRAINING PROGRAM AND THE ROUNDING OF CERTAIN…](https://policyrisk.com/state-bill/CT-HB05349-2026)
- [HB 05340: AN ACT CONCERNING RENEWABLE POWER GENERATION.](https://policyrisk.com/state-bill/CT-HB05340-2026)
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Source: PRIA, https://policyrisk.com/state-bill/CT-SB00038-2026 (as of 2026-11-01).