Connecticut House Bill HB05596

Connecticut 2016 Regular Session

• Introduced: 3/3/16
• Refer: 3/3/16
• Report Pass: 3/24/16
• Refer: 4/5/16
• Report Pass: 4/12/16
• Engrossed: 5/4/16
• Report Pass: 5/4/16
• Chaptered: 5/23/16
• Enrolled: 5/25/16
• Passed: 6/7/16

Caption

An Act Requiring A Study Concerning Certain State Tax Laws And Authorizing Certain Municipalities To Delay Revaluations Of Real Property.

Impact

The bill also provides specific municipalities, namely Madison, Naugatuck, and Stafford, the ability to delay the mandatory revaluation of real property from the assessment year starting October 1, 2017, to October 1, 2018. This delay is conditional upon approval from the municipalities' legislative bodies, highlighting a focus on providing local governments with additional flexibility regarding property assessments.

Summary

House Bill 5596 mandates a study on state tax laws pertaining to sales and use tax, personal income tax, and corporation business tax. The Commissioner of Revenue Services is tasked with conducting this study and is required to report the findings to the relevant General Assembly committee by January 1, 2017. This provision aims to analyze and potentially reform existing tax laws, signaling an acknowledgment of the complexities and discussions surrounding state taxation policies.

Sentiment

Generally, the sentiment around HB 5596 appears to be supportive, particularly among municipal governments that may find the revaluation timeline challenging due to financial or administrative burdens. The bill has been passed unanimously in the Senate Roll Call Vote (36-0), indicating broad consensus among legislators on the importance of both studying tax laws and allowing municipalities to manage their property assessments effectively.

Contention

While there is support for the bill, potential contention could arise regarding the study's scope and implications. Local governments may be concerned about how the findings from the Commissioner’s study could impact future tax legislation, especially if it includes recommendations for changes that might restrict their financial autonomy or alter funding mechanisms. Furthermore, stakeholders might debate the effectiveness of the one-year delay in addressing real property valuation needs and its impact on local revenue streams.