Bill > SB00737

This bill proposes a comprehensive set of reforms aimed at reducing the cost of living in Connecticut through multiple strategies. The bill seeks to simplify the state tax code by reducing marginal income tax rates, establish a property tax levy cap, and limit occupational licensing fees to $100. It aims to support businesses by reducing taxes and fees, allowing full expensing of capital expenditures, and requiring state agencies to review and streamline regulatory requirements for small businesses. The bill also includes several governance and fiscal measures, such as extending fiscal guardrails, lowering the state's bonded indebtedness cap, and establishing a working group to eliminate nonessential unfunded municipal mandates. Additionally, the legislation proposes changes to prevailing wage regulations, restricts the consideration of external funds in binding arbitration, modifies state employee retirement calculations by eliminating voluntary overtime from base salary computations, and requires the University of Connecticut to increase acceptance of Connecticut residents. The bill also seeks to eliminate state benefits for undocumented immigrants and convene a working group on tort reform, with the overarching goal of reducing living costs and implementing structural changes to improve the state's economic environment.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00737&which_year=2025