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CT SB00271

Bill

Official Source

Status

Passed

6/4/2018

Primary Sponsor

Planning and Development Committee

Click for details

Origin

Senate

2018 General Assembly

AI Summary

  • Exempts tangible personal property owned by business organizations from property tax if the original value does not exceed $250
  • Exemption does not apply during the first 10 full assessment years following the year the property was acquired
  • Effective October 1, 2018, and applies to assessment years beginning on or after October 1, 2018
  • Adds subdivision (79) to Section 12-81 of the general statutes

Legislative Description

An Act Exempting Certain Tangible Personal Property Owned By A Business From The Property Tax.

Last Action

Signed by the Governor

6/4/2018

Committee Referrals

Finance, Revenue and Bonding4/17/2018
Planning and Development2/28/2018

Full Bill Text

No bill text available