Connecticut 2024 Regular Session

Connecticut House Bill HB05504 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2
3	3	LCO No. 2932 1 of 12
4	4
5	5	General Assembly Raised Bill No. 5504
6	6	February Session, 2024
7	7	LCO No. 2932
8	8
9	9
10	10	Referred to Committee on FINANCE, REVENUE AND
11	11	BONDING
12	12
13	13
14	14	Introduced by:
15	15	(FIN)
16	16
17	17
18	18
19	19
20	20	AN ACT CONCERNING FUNDING FOR THE AMERICA 250
21	21	SEMIQUINCENTENNIAL INITIATIVE.
22	22	Be it enacted by the Senate and House of Representatives in General
23	23	Assembly convened:
24	24
25	25	Section 1. Subdivision (1) of section 12-408 of the 2024 supplement to 1
26	26	the general statutes is repealed and the following is substituted in lieu 2
27	27	thereof (Effective July 1, 2024, and applicable to sales occurring on or after 3
28	28	July 1, 2024): 4
29	29	(1) (A) For the privilege of making any sales, as defined in 5
30	30	subdivision (2) of subsection (a) of section 12-407, at retail, in this state 6
31	31	for a consideration, a tax is hereby imposed on all retailers at the rate of 7
32	32	six and thirty-five-hundredths per cent of the gross receipts of any 8
33	33	retailer from the sale of all tangible personal property sold at retail or 9
34	34	from the rendering of any services constituting a sale in accordance with 10
35	35	subdivision (2) of subsection (a) of section 12-407, except, in lieu of said 11
36	36	rate, the rates provided in subparagraphs (B) to (I), inclusive, of this 12
37	37	subdivision; 13
38	38	(B) (i) (I) At a rate of fifteen per cent with respect to each transfer of 14 Raised Bill No. 5504
39	39
40	40
41	41
42	42	LCO No. 2932 2 of 12
43	43
44	44	occupancy, from the total amount of rent received by a hotel or lodging 15
45	45	house for the first period not exceeding thirty consecutive calendar 16
46	46	days; and 17
47	47	(II) On and after July 1, 2024, through June 30, 2028, in addition to the 18
48	48	tax imposed under clause (i)(I) of this subparagraph, at a rate of six-19
49	49	hundred-fifteen-thousandths per cent with respect to each transfer of 20
50	50	occupancy, from the total amount of rent received by a hotel or lodging 21
51	51	house for the first period not exceeding thirty consecutive calendar 22
52	52	days; 23
53	53	(ii) At a rate of eleven per cent with respect to each transfer of 24
54	54	occupancy, from the total amount of rent received by a bed and 25
55	55	breakfast establishment for the first period not exceeding thirty 26
56	56	consecutive calendar days; 27
57	57	(C) With respect to the sale of a motor vehicle to any individual who 28
58	58	is a member of the armed forces of the United States and is on full-time 29
59	59	active duty in Connecticut and who is considered, under 50 App USC 30
60	60	574, a resident of another state, or to any such individual and the spouse 31
61	61	thereof, at a rate of four and one-half per cent of the gross receipts of any 32
62	62	retailer from such sales, provided such retailer requires and maintains a 33
63	63	declaration by such individual, prescribed as to form by the 34
64	64	commissioner and bearing notice to the effect that false statements made 35
65	65	in such declaration are punishable, or other evidence, satisfactory to the 36
66	66	commissioner, concerning the purchaser's state of residence under 50 37
67	67	App USC 574; 38
68	68	(D) (i) With respect to the sales of computer and data processing 39
69	69	services occurring on or after July 1, 2001, at the rate of one per cent, and 40
70	70	(ii) with respect to sales of Internet access services, on and after July 1, 41
71	71	2001, such services shall be exempt from such tax; 42
72	72	(E) (i) With respect to the sales of labor that is otherwise taxable under 43
73	73	subparagraph (C) or (G) of subdivision (2) of subsection (a) of section 44
74	74	12-407 on existing vessels and repair or maintenance services on vessels 45
75	75	occurring on and after July 1, 1999, such services shall be exempt from 46 Raised Bill No. 5504
76	76
77	77
78	78
79	79	LCO No. 2932 3 of 12
80	80
81	81	such tax; 47
82	82	(ii) With respect to the sale of a vessel, a motor for a vessel or a trailer 48
83	83	used for transporting a vessel, at the rate of two and ninety-nine-49
84	84	hundredths per cent, except that the sale of a vessel shall be exempt from 50
85	85	such tax if such vessel is docked in this state for sixty or fewer days in a 51
86	86	calendar year; 52
87	87	(iii) With respect to the sale of dyed diesel fuel, as defined in 53
88	88	subsection (d) of section 12-487, sold by a marine fuel dock exclusively 54
89	89	for marine purposes, at the rate of two and ninety-nine-hundredths per 55
90	90	cent; 56
91	91	(F) With respect to patient care services for which payment is 57
92	92	received by the hospital on or after July 1, 1999, and prior to July 1, 2001, 58
93	93	at the rate of five and three-fourths per cent and on and after July 1, 2001, 59
94	94	such services shall be exempt from such tax; 60
95	95	(G) With respect to the rental or leasing of a passenger motor vehicle 61
96	96	for a period of thirty consecutive calendar days or less, (i) at a rate of 62
97	97	nine and thirty-five-hundredths per cent, and (ii) on and after July 1, 63
98	98	2024, through June 30, 2028, in addition to the tax imposed under clause 64
99	99	(i) of this subparagraph, at a rate of six-hundred-fifteen-thousandths per 65
100	100	cent; 66
101	101	(H) With respect to the sale of (i) a motor vehicle for a sales price 67
102	102	exceeding fifty thousand dollars, at a rate of seven and three-fourths per 68
103	103	cent on the entire sales price, (ii) jewelry, whether real or imitation, for 69
104	104	a sales price exceeding five thousand dollars, at a rate of seven and 70
105	105	three-fourths per cent on the entire sales price, and (iii) an article of 71
106	106	clothing or footwear intended to be worn on or about the human body, 72
107	107	a handbag, luggage, umbrella, wallet or watch for a sales price 73
108	108	exceeding one thousand dollars, at a rate of seven and three-fourths per 74
109	109	cent on the entire sales price. For purposes of this subparagraph, "motor 75
110	110	vehicle" has the meaning provided in section 14-1, but does not include 76
111	111	a motor vehicle subject to the provisions of subparagraph (C) of this 77
112	112	subdivision, a motor vehicle having a gross vehicle weight rating over 78 Raised Bill No. 5504
113	113
114	114
115	115
116	116	LCO No. 2932 4 of 12
117	117
118	118	twelve thousand five hundred pounds, or a motor vehicle having a 79
119	119	gross vehicle weight rating of twelve thousand five hundred pounds or 80
120	120	less that is not used for private passenger purposes, but is designed or 81
121	121	used to transport merchandise, freight or persons in connection with 82
122	122	any business enterprise and issued a commercial registration or more 83
123	123	specific type of registration by the Department of Motor Vehicles; 84
124	124	(I) With respect to the sale of meals, as defined in subdivision (13) of 85
125	125	section 12-412, sold by an eating establishment, caterer or grocery store; 86
126	126	and spirituous, malt or vinous liquors, soft drinks, sodas or beverages 87
127	127	such as are ordinarily dispensed at bars and soda fountains, or in 88
128	128	connection therewith; in addition to the tax imposed under 89
129	129	subparagraph (A) of this subdivision, at the rate of one per cent; 90
130	130	(J) The rate of tax imposed by this chapter shall be applicable to all 91
131	131	retail sales upon the effective date of such rate, except that a new rate 92
132	132	that represents an increase in the rate applicable to the sale shall not 93
133	133	apply to any sales transaction wherein a binding sales contract without 94
134	134	an escalator clause has been entered into prior to the effective date of the 95
135	135	new rate and delivery is made within ninety days after the effective date 96
136	136	of the new rate. For the purposes of payment of the tax imposed under 97
137	137	this section, any retailer of services taxable under subdivision (37) of 98
138	138	subsection (a) of section 12-407, who computes taxable income, for 99
139	139	purposes of taxation under the Internal Revenue Code of 1986, or any 100
140	140	subsequent corresponding internal revenue code of the United States, 101
141	141	as amended from time to time, on an accounting basis that recognizes 102
142	142	only cash or other valuable consideration actually received as income 103
143	143	and who is liable for such tax only due to the rendering of such services 104
144	144	may make payments related to such tax for the period during which 105
145	145	such income is received, without penalty or interest, without regard to 106
146	146	when such service is rendered; 107
147	147	(K) (i) For calendar quarters ending on or after September 30, 2019, 108
148	148	the commissioner shall deposit into the regional planning incentive 109
149	149	account, established pursuant to section 4-66k, six and seven-tenths per 110
150	150	cent of the amounts received by the state from the tax imposed under 111 Raised Bill No. 5504
151	151
152	152
153	153
154	154	LCO No. 2932 5 of 12
155	155
156	156	[subparagraph (B)] subparagraphs (B)(i)(I) and (B)(ii) of this subdivision 112
157	157	and ten and seven-tenths per cent of the amounts received by the state 113
158	158	from the tax imposed under subparagraph (G)(i) of this subdivision; 114
159	159	(ii) For calendar quarters ending on or after September 30, 2018, the 115
160	160	commissioner shall deposit into the Tourism Fund established under 116
161	161	section 10-395b ten per cent of the amounts received by the state from 117
162	162	the tax imposed under [subparagraph (B)] subparagraphs (B)(i)(I) and 118
163	163	(B)(ii) of this subdivision; 119
164	164	(L) (i) For calendar months commencing on or after July 1, 2021, but 120
165	165	prior to July 1, 2023, the commissioner shall deposit into the municipal 121
166	166	revenue sharing account established pursuant to section 4-66l seven and 122
167	167	nine-tenths per cent of the amounts received by the state from the tax 123
168	168	imposed under subparagraph (A) of this subdivision, including such 124
169	169	amounts received on or after July 1, 2023, attributable to the fiscal year 125
170	170	ending June 30, 2023; [and] 126
171	171	(ii) For calendar months commencing on or after July 1, 2023, the 127
172	172	commissioner shall deposit into the Municipal Revenue Sharing Fund 128
173	173	established pursuant to section 4-66p seven and nine-tenths per cent of 129
174	174	the amounts received by the state from the tax imposed under 130
175	175	subparagraph (A) of this subdivision; [and] 131
176	176	(M) (i) For calendar months commencing on or after July 1, 2017, the 132
177	177	commissioner shall deposit into the Special Transportation Fund 133
178	178	established under section 13b-68 seven and nine-tenths per cent of the 134
179	179	amounts received by the state from the tax imposed under 135
180	180	subparagraph (A) of this subdivision; 136
181	181	(ii) For calendar months commencing on or after July 1, 2018, but 137
182	182	prior to July 1, 2019, the commissioner shall deposit into the Special 138
183	183	Transportation Fund established under section 13b-68 eight per cent of 139
184	184	the amounts received by the state from the tax imposed under 140
185	185	subparagraphs (A) and (H) of this subdivision on the sale of a motor 141
186	186	vehicle; 142 Raised Bill No. 5504
187	187
188	188
189	189
190	190	LCO No. 2932 6 of 12
191	191
192	192	(iii) For calendar months commencing on or after July 1, 2019, but 143
193	193	prior to July 1, 2020, the commissioner shall deposit into the Special 144
194	194	Transportation Fund established under section 13b-68 seventeen per 145
195	195	cent of the amounts received by the state from the tax imposed under 146
196	196	subparagraphs (A) and (H) of this subdivision on the sale of a motor 147
197	197	vehicle; 148
198	198	(iv) For calendar months commencing on or after July 1, 2020, but 149
199	199	prior to July 1, 2021, the commissioner shall deposit into the Special 150
200	200	Transportation Fund established under section 13b-68 twenty-five per 151
201	201	cent of the amounts received by the state from the tax imposed under 152
202	202	subparagraphs (A) and (H) of this subdivision on the sale of a motor 153
203	203	vehicle; 154
204	204	(v) For calendar months commencing on or after July 1, 2021, but 155
205	205	prior to July 1, 2022, the commissioner shall deposit into the Special 156
206	206	Transportation Fund established under section 13b-68 seventy-five per 157
207	207	cent of the amounts received by the state from the tax imposed under 158
208	208	subparagraphs (A) and (H) of this subdivision on the sale of a motor 159
209	209	vehicle; [and] 160
210	210	(vi) For calendar months commencing on or after July 1, 2022, the 161
211	211	commissioner shall deposit into the Special Transportation Fund 162
212	212	established under section 13b-68 one hundred per cent of the amounts 163
213	213	received by the state from the tax imposed under subparagraphs (A) 164
214	214	and (H) of this subdivision on the sale of a motor vehicle; and 165
215	215	(N) For calendar months commencing on or after July 1, 2024, but 166
216	216	prior to July 1, 2028, the commissioner shall deposit into the America 167
217	217	250 account established under section 3 of this act the amounts received 168
218	218	by the state from the tax imposed under subparagraphs (B)(i)(II) and 169
219	219	(G)(ii) of this subdivision. 170
220	220	Sec. 2. Subdivision (1) of section 12-411 of the 2024 supplement to the 171
221	221	general statutes is repealed and the following is substituted in lieu 172
222	222	thereof (Effective July 1, 2024, and applicable to sales occurring on or after 173
223	223	July 1, 2024): 174 Raised Bill No. 5504
224	224
225	225
226	226
227	227	LCO No. 2932 7 of 12
228	228
229	229	(1) (A) An excise tax is hereby imposed on the storage, acceptance, 175
230	230	consumption or any other use in this state of tangible personal property 176
231	231	purchased from any retailer for storage, acceptance, consumption or any 177
232	232	other use in this state, the acceptance or receipt of any services 178
233	233	constituting a sale in accordance with subdivision (2) of subsection (a) 179
234	234	of section 12-407, purchased from any retailer for consumption or use in 180
235	235	this state, or the storage, acceptance, consumption or any other use in 181
236	236	this state of tangible personal property which has been manufactured, 182
237	237	fabricated, assembled or processed from materials by a person, either 183
238	238	within or without this state, for storage, acceptance, consumption or any 184
239	239	other use by such person in this state, to be measured by the sales price 185
240	240	of materials, at the rate of six and thirty-five-hundredths per cent of the 186
241	241	sales price of such property or services, except, in lieu of said rate, [:] the 187
242	242	rates provided in subparagraphs (B) to (I), inclusive, of this subdivision; 188
243	243	(B) (i) (I) At a rate of fifteen per cent of the rent paid to a hotel or 189
244	244	lodging house for the first period not exceeding thirty consecutive 190
245	245	calendar days; and 191
246	246	(II) On and after July 1, 2024, through June 30, 2028, in addition to the 192
247	247	tax imposed under clause (i)(I) of this subparagraph, at a rate of six-193
248	248	hundred-fifteen-thousandths per cent of the rent paid to a hotel or 194
249	249	lodging house for the first period not exceeding thirty consecutive 195
250	250	calendar days; 196
251	251	(ii) At a rate of eleven per cent of the rent paid to a bed and breakfast 197
252	252	establishment for the first period not exceeding thirty consecutive 198
253	253	calendar days; 199
254	254	(C) With respect to the storage, acceptance, consumption or use in 200
255	255	this state of a motor vehicle purchased from any retailer for storage, 201
256	256	acceptance, consumption or use in this state by any individual who is a 202
257	257	member of the armed forces of the United States and is on full-time 203
258	258	active duty in Connecticut and who is considered, under 50 App USC 204
259	259	574, a resident of another state, or to any such individual and the spouse 205
260	260	of such individual at a rate of four and one-half per cent of the sales price 206 Raised Bill No. 5504
261	261
262	262
263	263
264	264	LCO No. 2932 8 of 12
265	265
266	266	of such vehicle, provided such retailer requires and maintains a 207
267	267	declaration by such individual, prescribed as to form by the 208
268	268	commissioner and bearing notice to the effect that false statements made 209
269	269	in such declaration are punishable, or other evidence, satisfactory to the 210
270	270	commissioner, concerning the purchaser's state of residence under 50 211
271	271	App USC 574; 212
272	272	(D) (i) With respect to the acceptance or receipt in this state of labor 213
273	273	that is otherwise taxable under subparagraph (C) or (G) of subdivision 214
274	274	(2) of subsection (a) of section 12-407 on existing vessels and repair or 215
275	275	maintenance services on vessels occurring on and after July 1, 1999, such 216
276	276	services shall be exempt from such tax; 217
277	277	(ii) (I) With respect to the storage, acceptance or other use of a vessel 218
278	278	in this state, at the rate of two and ninety-nine-hundredths per cent, 219
279	279	except that such storage, acceptance or other use shall be exempt from 220
280	280	such tax if such vessel is docked in this state for sixty or fewer days in a 221
281	281	calendar year; 222
282	282	(II) With respect to the storage, acceptance or other use of a motor for 223
283	283	a vessel or a trailer used for transporting a vessel in this state, at the rate 224
284	284	of two and ninety-nine-hundredths per cent; 225
285	285	(III) With respect to the storage, acceptance or other use of dyed diesel 226
286	286	fuel, as defined in subsection (d) of section 12-487, exclusively for 227
287	287	marine purposes, at the rate of two and ninety-nine-hundredths per 228
288	288	cent; 229
289	289	(E) (i) With respect to the acceptance or receipt in this state of 230
290	290	computer and data processing services purchased from any retailer for 231
291	291	consumption or use in this state occurring on or after July 1, 2001, at the 232
292	292	rate of one per cent of such services, and (ii) with respect to the 233
293	293	acceptance or receipt in this state of Internet access services, on and after 234
294	294	July 1, 2001, such services shall be exempt from such tax; 235
295	295	(F) With respect to the acceptance or receipt in this state of patient 236
296	296	care services purchased from any retailer for consumption or use in this 237 Raised Bill No. 5504
297	297
298	298
299	299
300	300	LCO No. 2932 9 of 12
301	301
302	302	state for which payment is received by the hospital on or after July 1, 238
303	303	1999, and prior to July 1, 2001, at the rate of five and three-fourths per 239
304	304	cent and on and after July 1, 2001, such services shall be exempt from 240
305	305	such tax; 241
306	306	(G) With respect to the rental or leasing of a passenger motor vehicle 242
307	307	for a period of thirty consecutive calendar days or less, (i) at a rate of 243
308	308	nine and thirty-five-hundredths per cent, and (ii) on and after July 1, 244
309	309	2024, through June 30, 2028, in addition to the tax imposed under clause 245
310	310	(i) of this subparagraph, at a rate of six-hundred-fifteen-thousandths per 246
311	311	cent; 247
312	312	(H) With respect to the acceptance or receipt in this state of (i) a motor 248
313	313	vehicle for a sales price exceeding fifty thousand dollars, at a rate of 249
314	314	seven and three-fourths per cent on the entire sales price, (ii) jewelry, 250
315	315	whether real or imitation, for a sales price exceeding five thousand 251
316	316	dollars, at a rate of seven and three-fourths per cent on the entire sales 252
317	317	price, and (iii) an article of clothing or footwear intended to be worn on 253
318	318	or about the human body, a handbag, luggage, umbrella, wallet or 254
319	319	watch for a sales price exceeding one thousand dollars, at a rate of seven 255
320	320	and three-fourths per cent on the entire sales price. For purposes of this 256
321	321	subparagraph, "motor vehicle" has the meaning provided in section 14-257
322	322	1, but does not include a motor vehicle subject to the provisions of 258
323	323	subparagraph (C) of this subdivision, a motor vehicle having a gross 259
324	324	vehicle weight rating over twelve thousand five hundred pounds, or a 260
325	325	motor vehicle having a gross vehicle weight rating of twelve thousand 261
326	326	five hundred pounds or less that is not used for private passenger 262
327	327	purposes, but is designed or used to transport merchandise, freight or 263
328	328	persons in connection with any business enterprise and issued a 264
329	329	commercial registration or more specific type of registration by the 265
330	330	Department of Motor Vehicles; 266
331	331	(I) With respect to the acceptance or receipt in this state of meals, as 267
332	332	defined in subdivision (13) of section 12-412, sold by an eating 268
333	333	establishment, caterer or grocery store; and spirituous, malt or vinous 269
334	334	liquors, soft drinks, sodas or beverages such as are ordinarily dispensed 270 Raised Bill No. 5504
335	335
336	336
337	337
338	338	LCO No. 2932 10 of 12
339	339
340	340	at bars and soda fountains, or in connection therewith; in addition to the 271
341	341	tax imposed under subparagraph (A) of this subdivision, at the rate of 272
342	342	one per cent; 273
343	343	(J) (i) For calendar quarters ending on or after September 30, 2019, the 274
344	344	commissioner shall deposit into the regional planning incentive 275
345	345	account, established pursuant to section 4-66k, six and seven-tenths per 276
346	346	cent of the amounts received by the state from the tax imposed under 277
347	347	[subparagraph (B)] subparagraphs (B)(i)(I) and (B)(ii) of this subdivision 278
348	348	and ten and seven-tenths per cent of the amounts received by the state 279
349	349	from the tax imposed under subparagraph (G)(i) of this subdivision; 280
350	350	(ii) For calendar quarters ending on or after September 30, 2018, the 281
351	351	commissioner shall deposit into the Tourism Fund established under 282
352	352	section 10-395b ten per cent of the amounts received by the state from 283
353	353	the tax imposed under [subparagraph (B)] subparagraphs (B)(i)(I) and 284
354	354	(B)(ii) of this subdivision; 285
355	355	(K) (i) For calendar months commencing on or after July 1, 2021, but 286
356	356	prior to July 1, 2023, the commissioner shall deposit into the municipal 287
357	357	revenue sharing account established pursuant to section 4-66l seven and 288
358	358	nine-tenths per cent of the amounts received by the state from the tax 289
359	359	imposed under subparagraph (A) of this subdivision, including such 290
360	360	amounts received on or after July 1, 2023, attributable to the fiscal year 291
361	361	ending June 30, 2023; [and] 292
362	362	(ii) For calendar months commencing on or after July 1, 2023, the 293
363	363	commissioner shall deposit into the Municipal Revenue Sharing Fund 294
364	364	established pursuant to section 4-66p seven and nine-tenths per cent of 295
365	365	the amounts received by the state from the tax imposed under 296
366	366	subparagraph (A) of this subdivision; [and] 297
367	367	(L) (i) For calendar months commencing on or after July 1, 2017, the 298
368	368	commissioner shall deposit into said Special Transportation Fund seven 299
369	369	and nine-tenths per cent of the amounts received by the state from the 300
370	370	tax imposed under subparagraph (A) of this subdivision; 301 Raised Bill No. 5504
371	371
372	372
373	373
374	374	LCO No. 2932 11 of 12
375	375
376	376	(ii) For calendar months commencing on or after July 1, 2018, but 302
377	377	prior to July 1, 2019, the commissioner shall deposit into the Special 303
378	378	Transportation Fund established under section 13b-68 eight per cent of 304
379	379	the amounts received by the state from the tax imposed under 305
380	380	subparagraphs (A) and (H) of this subdivision on the acceptance or 306
381	381	receipt in this state of a motor vehicle; 307
382	382	(iii) For calendar months commencing on or after July 1, 2019, but 308
383	383	prior to July 1, 2020, the commissioner shall deposit into the Special 309
384	384	Transportation Fund established under section 13b-68 seventeen per 310
385	385	cent of the amounts received by the state from the tax imposed under 311
386	386	subparagraphs (A) and (H) of this subdivision on the acceptance or 312
387	387	receipt in this state of a motor vehicle; 313
388	388	(iv) For calendar months commencing on or after July 1, 2020, but 314
389	389	prior to July 1, 2021, the commissioner shall deposit into the Special 315
390	390	Transportation Fund established under section 13b-68 twenty-five per 316
391	391	cent of the amounts received by the state from the tax imposed under 317
392	392	subparagraphs (A) and (H) of this subdivision on the acceptance or 318
393	393	receipt in this state of a motor vehicle; 319
394	394	(v) For calendar months commencing on or after July 1, 2021, but 320
395	395	prior to July 1, 2022, the commissioner shall deposit into the Special 321
396	396	Transportation Fund established under section 13b-68 seventy-five per 322
397	397	cent of the amounts received by the state from the tax imposed under 323
398	398	subparagraphs (A) and (H) of this subdivision on the acceptance or 324
399	399	receipt in this state of a motor vehicle; [and] 325
400	400	(vi) For calendar months commencing on or after July 1, 2022, the 326
401	401	commissioner shall deposit into the Special Transportation Fund 327
402	402	established under section 13b-68 one hundred per cent of the amounts 328
403	403	received by the state from the tax imposed under subparagraphs (A) 329
404	404	and (H) of this subdivision on the acceptance or receipt in this state of a 330
405	405	motor vehicle; and 331
406	406	(M) For calendar months commencing on or after July 1, 2024, but 332
407	407	prior to July 1, 2028, the commissioner shall deposit into the America 333 Raised Bill No. 5504
408	408
409	409
410	410
411	411	LCO No. 2932 12 of 12
412	412
413	413	250 account established under section 3 of this act the amounts received 334
414	414	by the state from the tax imposed under subparagraphs (B)(i)(II) and 335
415	415	(G)(ii) of this subdivision. 336
416	416	Sec. 3. (NEW) (Effective July 1, 2024) There is established an account 337
417	417	to be known as the "America 250 account" which shall be a separate, 338
418	418	nonlapsing account. The account shall contain any moneys required by 339
419	419	law to be deposited in the account. Moneys in the account shall be 340
420	420	expended by the Secretary of the Office of Policy and Management for 341
421	421	the purposes of funding the America 250 semiquincentennial initiative. 342
422	422	This act shall take effect as follows and shall amend the following
423	423	sections:
424	424
425	425	Section 1 July 1, 2024, and
426	426	applicable to sales
427	427	occurring on or after July
428	428	1, 2024
429	429	12-408(1)
430	430	Sec. 2 July 1, 2024, and
431	431	applicable to sales
432	432	occurring on or after July
433	433	1, 2024
434	434	12-411(1)
435	435	Sec. 3 July 1, 2024 New section
436	436
437	437	Statement of Purpose:
438	438	To temporarily increase the rates of the room occupancy tax on hotels
439	439	and lodging houses and the sales and use taxes on the rental or leasing
440	440	of a passenger motor vehicle and dedicate the additional revenue
441	441	generated from such increases to be used for the America 250
442	442	semiquincentennial initiative.
443	443	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
444	444	that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
445	445	underlined.]
446	446