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CT HB05504
Bill
Status
3/14/2024
Primary Sponsor
Finance, Revenue and Bonding Committee
Click for details
AI Summary
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Imposes temporary additional sales and use taxes from July 1, 2024 through June 30, 2028: 0.615% on hotel and lodging house occupancy and 0.615% on passenger motor vehicle rentals
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Creates a separate nonlapsing "America 250 account" to receive all revenue from the temporary tax increases, effective July 1, 2024
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Revenue from the temporary taxes shall be expended by the Secretary of the Office of Policy and Management exclusively for funding the America 250 semiquincentennial initiative
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Modifies Connecticut General Statutes sections 12-408 and 12-411 to establish the new tax rates and deposit mechanisms
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All provisions take effect July 1, 2024 and apply to sales occurring on or after that date
Legislative Description
An Act Concerning Funding For The America 250 Semiquincentennial Initiative.
Last Action
Public Hearing 03/20
3/15/2024