The proposed bill, General Assembly Proposed Bill No. 5063, aims to amend chapter 219 of the general statutes by reducing the sales and use tax rate on construction and building materials specifically for housing projects. The bill stipulates that the tax rate will be lowered to two percent for the sale, storage, use, or other consumption of these materials within the state.

The primary purpose of this legislation is to alleviate the financial burden associated with the construction and rehabilitation of housing by significantly lowering the tax rate on essential materials. This reduction is intended to promote housing development and support efforts to improve housing availability and affordability in the state.