AN ACT CONCERNING THE SALES AND USE TAXES RATE FOR AND APPLICABILITY TO CERTAIN MOTOR VEHICLES, PEER-TO-PEER CAR SHARING AND CERTAIN PERSONAL PROPERTY USED IN BURIALS AND CREMATIONS, DEDICATING FUNDING FOR THE TOURISM FUND AND INCREASING THE EXEMPTION AMOUNT FOR SALES TAX-FREE WEEK.

This bill amends Connecticut's sales and use tax rates for specific goods and services, including new provisions for peer-to-peer car sharing and higher taxes on luxury items. It establishes a 9.35% tax rate for short-term vehicle rentals and peer-to-peer car sharing, while reducing the tax rate for military personnel stationed in the state to 4.5%. The legislation also adjusts tax rates for high-value purchases, such as vehicles over $75,000 and jewelry over $5,000, which would be taxed at 7.75% on the full sales price. Additionally, the bill provides tax exemptions for certain biotechnology electricity use and burial-related personal property, while dedicating funding to the state tourism fund and increasing the exemption amount for the annual sales tax-free week.