Connecticut House Bill HB05463

Connecticut 2020 Regular Session

• Introduced: 3/5/20
• Refer: 3/5/20

Caption

An Act Concerning The Legislative Commissioners' Recommendations For Minor And Technical Revisions To The Tax And Related Statutes.

Impact

This bill proposes amendments to multiple sections of Connecticut's General Statutes, particularly those related to property taxes and the administration of tax credits. One significant aspect of HB 5463 is its potential impact on property tax relief programs, especially those benefitting elderly homeowners and permanently disabled individuals. Adjustments to qualifying income thresholds and the provision for tax reductions are expected to aid eligible homeowners, ensuring they receive appropriate tax relief according to the latest policy standards.

Summary

House Bill 5463 aims to address minor and technical revisions to various tax and related statutes within the state. The primary objective of the bill is to streamline the tax code, ensuring clarity and improving administrative efficiency while making necessary adjustments that reflect changes in policy or updates to legal provisions. By enacting these revisions, the legislature intends to enhance compliance measures and reduce confusion for taxpayers and tax authorities alike.

Contention

While the revisions presented in HB 5463 are largely technical, potential points of contention could arise during discussions regarding specific tax relief measures and their funding sources. Advocates of fiscal responsibility may challenge the sustainability of property tax relief programs if they perceive them as burdensome on the state budget or at risk of reduction in future funding. Moreover, there might be discussions about the equitable distribution of tax credits to businesses and the mechanisms through which these incentives are administered.