Connecticut Senate Bill SB01013

Connecticut 2017 Regular Session

• Introduced: 3/10/17
• Refer: 3/10/17

Caption

An Act Concerning Certain Exemptions From The Property Tax.

Impact

One of the key components of the bill is the introduction of a new property tax exemption for machinery and equipment utilized in coloring or mixing paint. This change is expected to benefit retailers who sell paint, further promoting local business growth and potentially leading to lower prices for consumers. The exemption applies to items such as spectrographic color matching machines and automatic colorant dispensers, which are vital to the operational efficiency of paint retailers. By offering these exemptions, the bill endeavors to support economic activity in a specific niche of the retail sector.

Summary

SB01013, titled 'An Act Concerning Certain Exemptions From The Property Tax,' proposes significant amendments to the property tax exemptions outlined in the general statutes. The bill aims to repeal existing exemptions for musical instruments and various electronic devices while introducing new exemptions for specific machinery and equipment used in the paint retail industry. This legislative effort is part of a broader initiative to adapt state tax policy to meet the evolving needs of households and businesses alike.

Contention

Notably, the amendments made by SB01013 are likely to trigger debate among various stakeholder groups. Advocates for the bill argue that the proposed changes are essential for fueling economic growth and ensuring that retailers remain competitive in an increasingly challenging market. Conversely, opponents may raise concerns regarding the removal of exemptions for personal electronic devices, which could disproportionately affect families and individuals. The discussions surrounding these differing perspectives highlight the complexities inherent in tax legislation, particularly when it comes to balancing economic incentives with equity considerations.