General Assembly Proposed Bill No. 5193
February Session, 2014 LCO No. 749
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. BOLINSKY, 106th Dist.
General Assembly
Proposed Bill No. 5193
February Session, 2014
LCO No. 749
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. BOLINSKY, 106th Dist.
AN ACT RESTORING THE EXEMPTION FROM SALES AND USE TAXES FOR NONPRESCRIPTION DRUGS AND MEDICINES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to restore the exemption on nonprescription drugs and medicines beginning April 1, 2014. The revenue loss shall be offset by the use of 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.