AN ACT CONCERNING THE SALES PRICE THRESHOLD OF MOTOR VEHICLES SUBJECT TO A HIGHER SALES AND USE TAXES RATE.

HB 5543 increases the sales price threshold for motor vehicles subject to a 7.75% sales and use tax rate from $75,000 to "more than $75,000." This means vehicles priced above the new threshold will pay the higher tax rate, while vehicles below it will pay a lower rate. The bill directly affects buyers of high-end vehicles, typically those purchasing new cars or luxury models exceeding the updated price point. It does not change the tax rate itself but adjusts the price level triggering the higher rate. The change applies to all motor vehicles subject to this tax structure under state law.