Posted on June 5, 2018
HARTFORD – State Representative Tami Zawistowski (R-61) applauded the Governor signing SB 271 ‘An Act Exempting Certain Tangible Personal property from the Property Tax’. The measure would exempt property that is more than ten years old and has an original value of less than $250.
“I am excited that the Governor has signed this bill to help small business. I worked on this initiative from the beginning of the legislative session, proposing it in a letter to committee leadership, submitting testimony, co-sponsoring the bill and shepherding it through the process,” said Rep. Zawistowski. “This bill is a small first step toward providing tax and administrative relief for small businesses who are currently paying a small nuisance tax on property such as very old filing cabinets and office furniture.”
Rep. Zawistowski said in her public testimony, “The proposed legislation is not intended to include all business personal property. It is limited to personal property with an original value of $250 or less. This will help mitigate impact on municipal tax collections while offering some help to the kinds of small businesses that are often the lifeblood of our communities -and which are the kind that can grow and create jobs.”
The initiative was supported by the National Federation of Independent Business. The measure passed the Senate unanimously and passed the House 138-11. It was signed into law by the Governor Monday, June 4th and will take effect October 1st.