General Assembly Proposed Bill No. 5096
February Session, 2014 LCO No. 534
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. CAFERO, 142nd Dist. REP. CANDELORA, 86th Dist. REP. KLARIDES, 114th Dist.
General Assembly
Proposed Bill No. 5096
February Session, 2014
LCO No. 534
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. CAFERO, 142nd Dist.
REP. CANDELORA, 86th Dist.
REP. KLARIDES, 114th Dist.
AN ACT RESTORING THE SALES AND USE TAX EXEMPTION ON NONPRESCRIPTION DRUGS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to restore the sales and use tax exemption on nonprescription drugs beginning April 1, 2014. The revenue loss shall be offset by using ten million eight hundred thousand dollars of the state's excess revenue and by keeping the earned income tax credit at the current twenty-five per cent level.
Statement of Purpose:
To provide tax relief for those items that are essential to our residents' everyday lives.