CT SB00497

Establishes a task force to study the feasibility of repealing Connecticut's motor vehicle property tax and options for replacing lost municipal revenue.

Task force shall examine potential impacts on municipal budgets and analyze replacement revenue sources, including an optional annual 8% tax on direct net premiums from private passenger automobile insurance and homeowners insurance policies.

Task force composition includes 9 voting members appointed by legislative leaders and state officials, plus joint committee chairpersons and ranking members, with representation from tax reform advocates, seniors' advocates, municipal leaders, insurers, and University of Connecticut faculty.

Initial appointments must be made within 30 days of enactment, with the first task force meeting scheduled within 60 days.

Task force must submit findings and recommendations to joint standing committees by February 1, 2024, and terminates upon report submission or February 1, 2024, whichever is later.