AN ACT REDUCING THE MOTOR VEHICLE MILL RATE CAP.

HB 5449 reduces the maximum tax rate (mill rate cap) for motor vehicle taxes in Connecticut from 32.46 mills to 30 mills. This directly affects municipalities that collect vehicle taxes, as they would see reduced revenue from this lower cap. The bill requires the state to reimburse affected towns through the Municipal Revenue Sharing Fund to offset this revenue loss, as specified in section 4-66p of the general statutes. The change aims to lower vehicle tax burdens while maintaining municipal funding stability.