Connecticut Senate Bill SB00704

Connecticut 2023 Regular Session

• Introduced: 1/18/23
• Refer: 1/18/23

Caption

An Act Eliminating State Taxes Or Fees For Which Collection Costs Exceed The Revenue Received.

Impact

The implementation of SB00704 would have significant implications for state laws regarding taxation and public finance. By removing taxes and fees that are not financially viable, the state could potentially see a simplification in its tax code. This could not only make it easier for taxpayers to understand their obligations but could also reduce administrative burdens on the state agencies tasked with tax collection. Additionally, it might lead to a reallocation of resources to more effective revenue-generating strategies.

Summary

SB00704 proposes the elimination of state taxes or fees when the costs of collection exceed the revenue generated from those taxes or fees. This initiative aims to streamline state financial operations by removing ineffective tax measures that do not produce a net revenue benefit, thereby cutting unnecessary governmental expenditures related to tax collection. The bill is framed to improve fiscal responsibility within the state's financial management by ensuring that resources are allocated efficiently and only towards revenue-generating activities.

Contention

Potential points of contention surrounding SB00704 include the determination of which taxes or fees would be eliminated and the impact this might have on state budgets and services. Critics might argue that some taxes, while costly to collect, serve important functions or provide essential funding for state services. As such, the decision to eliminate these revenue sources could provoke debate over fiscal priorities and the imperative of maintaining certain revenue streams for state functionality.