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CT HB05172

Bill

Official Source

Status

Introduced

1/15/2021

Primary Sponsor

Gary Turco

Click for details

Origin

House of Representatives

2021 General Assembly

AI Summary

  • Amends chapter 203 of the general statutes to require the state to provide payments in lieu of taxes to municipalities for manufacturing machinery and equipment
  • Payments to be made at 100 percent of the property taxes that would have been paid absent the exemption in section 12-81 of the general statutes
  • Assists municipalities in offsetting revenue losses from the manufacturing machinery and equipment tax exemption
  • Provides property tax relief to manufacturers and encourages growth in the manufacturing sector

Legislative Description

An Act Concerning Payments In Lieu Of Taxes To Municipalities For Manufacturing Machinery And Equipment.

Last Action

Public Hearing 03/26

3/22/2021

Committee Referrals

Appropriations1/15/2021

Full Bill Text

No bill text available