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CT HB05075
Bill
Status
Introduced
2/11/2020
Primary Sponsor
Bob Godfrey
Click for details
AI Summary
- Exempt from sales and use taxes: clothing and footwear under $50, dry cleaning and laundry services, parking, prepared foods, safety apparel, and residential weatherization products
- Reduce the sales and use tax rate from current law to 6 percent
- Eliminate the plastic bag fee and motor vehicle trade-in fee
- Increase earned income tax credit to 30 percent, property tax credit to $500, and research and development tax credit amounts
- Increase personal income tax rates on taxpayers earning over $250,000 (single) or $500,000 (joint) to offset revenue losses from the above changes
Legislative Description
An Act Restructuring Certain Taxes.
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding
2/11/2020
Committee Referrals
Finance, Revenue and Bonding2/11/2020
Full Bill Text
No bill text available