The proposed bill, General Assembly Proposed Bill No. 5050, 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.

The intent of this legislation is to adjust the tax burden on higher-priced motor vehicles, thereby potentially reducing the tax liability for consumers purchasing vehicles above the current threshold. This change aims to provide financial relief to buyers of more expensive vehicles by exempting them from the higher tax rate that currently applies to those priced at seventy-five thousand dollars or less.