Connecticut House Bill HB05098

Connecticut 2024 Regular Session

• Introduced: 2/14/24
• Refer: 2/14/24

Caption

An Act Exempting Propane Gas For Residential Backup Generators From The Petroleum Products Gross Earnings Tax.

Impact

If enacted, HB 05098 will amend current tax laws under chapter 227 of the general statutes. By exempting propane gas used for residential backup generators from taxation, the bill intends to encourage homeowners to invest in backup energy solutions. This could lead to an increased demand for propane services and potentially enhance the market for backup generators in the state. The anticipated outcomes include improved accessibility to energy resources for families and a strengthened resilience against electrical supply disruptions.

Summary

House Bill 05098 proposes an exemption from the petroleum products gross earnings tax for propane gas intended for residential backup generators. This legislative move aims to alleviate the financial burden on homeowners who rely on propane as an energy source for backup generators, especially during power outages or emergencies. Proponents of the bill argue that it promotes energy security and affordability for families, providing them with a more cost-effective option for ensuring their homes remain powered during unforeseen circumstances.

Contention

While the bill is seen favorably by consumers and proponents of renewable energy, it may face opposition from those concerned about the implications of tax exemptions on state revenue. Critics might argue that exempting propane could potentially reduce the funds available for public services that rely on tax revenues. The balance between fostering individual energy autonomy through tax incentives and ensuring adequate funding for state needs will likely be a point of discussion as the bill progresses through legislative review.