General Assembly Committee Bill No. 451
January Session, 2015 LCO No. 5469
*05469SB00451PD_*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
(PD)
General Assembly
Committee Bill No. 451
January Session, 2015
LCO No. 5469
*05469SB00451PD_*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
(PD)
AN ACT CONCERNING TAXATION OF ANTIQUE VEHICLES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (b) of section 12-71 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2015, and applicable to assessment years commencing on or after October 1, 2015):
(b) Except as otherwise provided by the general statutes, property subject to this section shall be valued at the same percentage of its then actual valuation as the assessors have determined with respect to the listing of real estate for the same year, except that any antique, rare or special interest motor vehicle, as defined in section 14-1, that is twenty-five years old or older shall be assessed at a value of not more than five hundred dollars. The owner of such antique, rare or special interest motor vehicle may be required by the assessors to provide reasonable documentation that such motor vehicle is an antique, rare or special interest motor vehicle, provided any motor vehicle for which special number plates have been issued pursuant to section 14-20 shall not be required to provide any such documentation. Such documentation shall be provided once and not annually thereafter. The provisions of this section shall not include money or property actually invested in merchandise or manufacturing carried on out of this state or machinery or equipment which would be eligible for exemption under subdivision (72) of section 12-81 once installed and which cannot begin or which has not begun manufacturing, processing or fabricating; or which is being used for research and development, including experimental or laboratory research and development, design or engineering directly related to manufacturing or being used for the significant servicing, overhauling or rebuilding of machinery and equipment for industrial use or the significant overhauling or rebuilding of other products on a factory basis or being used for measuring or testing or metal finishing or in the production of motion pictures, video and sound recordings.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2015, and applicable to assessment years commencing on or after October 1, 2015 12-71(b)
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2015, and applicable to assessment years commencing on or after October 1, 2015
12-71(b)
Statement of Purpose:
To prohibit assessors from requiring documentation of antique vehicle status more than once and to increase the age threshold for antique vehicles from twenty to twenty-five years.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]
Co-Sponsors: SEN. CHAPIN, 30th Dist.
Co-Sponsors:
SEN. CHAPIN, 30th Dist.
S.B. 451