General Assembly Proposed Bill No. 7
January Session, 2017 LCO No. 336
*00336*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. LOONEY, 11th Dist.
General Assembly
Proposed Bill No. 7
January Session, 2017
LCO No. 336
*00336*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
SEN. LOONEY, 11th Dist.
AN ACT CONCERNING PROPERTY TAX RELIEF FOR BUSINESSES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 203 of the general statutes be amended to provide relief to businesses in the state by exempting the first ten thousand dollars of a business's tangible personal property from the property tax, and to relieve small businesses owning less than ten thousand dollars of tangible personal property from the administrative burden of itemizing their taxable tangible personal property items.
Statement of Purpose:
To provide direct property tax relief to businesses in the state and reduce costly and time-consuming administrative tax requirements for small businesses.