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Finance, Revenue and Bonding Committee reserves two proposed tax measures for public hearings
Summary
The committee voted to reserve Senate Bill 741 (statewide property tax on certain residential real property) and Senate Bill 742 (capital gains surcharge) for subject-matter public hearings; motions passed after roll-call votes and brief objections from members who said the measures would raise taxes on residents.
The Finance, Revenue and Bonding Committee on Oct. 12 voted to reserve two proposed bills for subject-matter public hearings: Senate Bill 741, an act concerning a statewide property tax on certain residential real property, and Senate Bill 742, an act establishing a capital gains surcharge.
The committee’s chair opened each item and members voted by roll call to place both bills on the agenda for future public hearings. The committee clerk conducted formal roll-call votes and the motions to reserve both bills carried.
The committee heard brief objections from some members before the roll calls. Senator Fazio said he would vote against raising SB 741 for a hearing, arguing Connecticut already carries “one of the highest property tax burdens in the entire country” and urging the committee to focus on…
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