The proposed bill, General Assembly Proposed Bill No. 5005, seeks to amend chapter 219 of the general statutes by increasing the sales price threshold for motor vehicles that are subject to a higher sales and use tax rate of seven and three-fourths percent. Specifically, the bill proposes to raise this threshold to an amount greater than seventy-five thousand dollars.

This change aims to adjust the tax burden on higher-priced motor vehicles, potentially making them more accessible to consumers by reducing the tax rate applied to vehicles priced below the new threshold. The bill reflects a legislative intent to modify existing tax structures to better align with current market conditions and consumer needs.