AN ACT CONCERNING VARIOUS INITIATIVES TO REDUCE THE COST OF LIVING IN THE STATE AND IMPLEMENT OTHER REFORMS.

SB 737 aims to lower living costs through tax cuts and regulatory changes. It would reduce income tax rates, cap property taxes, limit licensing fees to $100, and ease business tax burdens - including allowing full expensing of equipment purchases. The bill also restricts municipal mandates (requiring two-thirds legislative approval for new ones), changes University of Connecticut admissions to prioritize Connecticut residents, ends state benefits for undocumented immigrants, and revises retirement calculations for state employees by excluding voluntary overtime. These provisions directly affect residents, businesses, municipalities, and state employees.