Bill Text: CT SB00271 | 2018 | General Assembly | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: An Act Exempting Certain Tangible Personal Property Owned By A Business From The Property Tax.

Spectrum: Committee Bill

Status: (Passed) 2018-06-04 - Signed by the Governor [SB00271 Detail]

Download: Connecticut-2018-SB00271-Comm_Sub.html

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General Assembly		Raised Bill No. 271
February Session, 2018		LCO No. 1620
		*_____SB00271PD____031918____*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
(PD)

AN ACT EXEMPTING CERTAIN TANGIBLE PERSONAL PROPERTY OWNED BY A BUSINESS FROM THE PROPERTY TAX.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 12-81 of the 2018 supplement to the general statutes is amended by adding subdivision (79) as follows (Effective October 1, 2018, and applicable to assessment years commencing on or after October 1, 2018):

(NEW) (79) Tangible personal property with an original value of not more than two hundred fifty dollars that is owned by a business organization, provided this exemption shall not apply for the first ten full assessment years following the assessment year in which the property was acquired.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2018, and applicable to assessment years commencing on or after October 1, 2018	12-81

PD

Joint Favorable