AN ACT CONCERNING THE SALES TAX GENERATED WITHIN TARGETED INVESTMENT COMMUNITIES.


General Assembly		*Proposed Bill No. 5489*
*January Session, 2005*		LCO No. 1781

Referred to Committee on Commerce
Introduced by:
REP. SHAPIRO, 144th Dist. REP. TRUGLIA, 145th Dist. REP. LEONE, 148th Dist. REP. FOX, 146th Dist.

AN ACT CONCERNING THE SALES TAX GENERATED WITHIN TARGETED INVESTMENT COMMUNITIES.

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

That the general statutes be amended to permit targeted investment communities to retain one per cent of the sales tax revenue generated within such communities.

Statement of Purpose:

To provide communities that generate the majority of retail sales to offset the costs associated therewith, thus reducing the property tax burden incurred as a result of such costs.