# Connecticut SB 00385: 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 00385, 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 2025 Regular Session Senate bill sponsored by Ryan Fazio (Republican); status failed, last action 2025-01-09 (Referred to Joint Committee on Finance, Revenue and Bonding) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/CT-SB00385-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Connecticut SB 00385
- State: Connecticut
- Session: 2025 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: 2025-01-09
- Last action: 2025-01-09, 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)

- 2025-01-09: Referred to Joint Committee on Finance, Revenue and Bonding (legislature)

## Bill text

- Proposed Bill, 2025-01-09: [PDF](https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-00385-R00-SB.PDF)

## Related bills

- HB 05013: AN ACT ADDING CERTAIN PLANTS TO THE INVASIVE PLANTS LIST. (signed)
- SB 01558: AN ACT CONCERNING INCOME TAXES IMPOSED BY OTHER JURISDICTIONS ON RESIDENTS OF THE STATE. (signed)
- SB 01396: AN ACT CONCERNING EARNED BUT UNPAID WAGE OR SALARY INCOME ADVANCES. (signed)
- SB 01187: AN ACT CONCERNING FORECLOSURE, ASSIGNMENT AND OTHER ENFORCEMENT ACTIONS FOR UNPAID SEWER ASSESSMENTS AND OTHER FEES AND CHARGES. (signed)
- HB 07236: AN ACT CONCERNING HUMAN TRAFFICKING AND SEXUAL ASSAULT VICTIMS. (signed)
- HB 07192: AN ACT IMPLEMENTING RECOMMENDATIONS OF THE BIPARTISAN DRUG TASK FORCE. (signed)

## Sources
- [Proposed Bill (PDF)](https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-00385-R00-SB.PDF)

## Related
- [HB 05013: AN ACT ADDING CERTAIN PLANTS TO THE INVASIVE PLANTS LIST.](https://policyrisk.com/state-bill/CT-HB05013-2025)
- [SB 01558: AN ACT CONCERNING INCOME TAXES IMPOSED BY OTHER JURISDICTIONS ON RESIDENTS OF T…](https://policyrisk.com/state-bill/CT-SB01558-2025)
- [SB 01396: AN ACT CONCERNING EARNED BUT UNPAID WAGE OR SALARY INCOME ADVANCES.](https://policyrisk.com/state-bill/CT-SB01396-2025)
- [SB 01187: AN ACT CONCERNING FORECLOSURE, ASSIGNMENT AND OTHER ENFORCEMENT ACTIONS FOR UNP…](https://policyrisk.com/state-bill/CT-SB01187-2025)
- [HB 07236: AN ACT CONCERNING HUMAN TRAFFICKING AND SEXUAL ASSAULT VICTIMS.](https://policyrisk.com/state-bill/CT-HB07236-2025)
- [HB 07192: AN ACT IMPLEMENTING RECOMMENDATIONS OF THE BIPARTISAN DRUG TASK FORCE.](https://policyrisk.com/state-bill/CT-HB07192-2025)
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Source: PRIA, https://policyrisk.com/state-bill/CT-SB00385-2025 (as of 2026-10-17).