The Finance, Revenue and Bonding Committee voted to reserve two proposed bills—Senate Bill 741, concerning a statewide property tax on certain residential real property, and Senate Bill 742, proposing a capital gains surcharge—for subject-matter public hearings.

The committee’s chair clarified that the votes were procedural: reserving each bill for a hearing does not mean the committee endorses the underlying proposal. "The motion here is not to pass out of committee. It is a motion to reserve the bill for a hearing," the chair said.

Senator Fazio opposed reserving SB 741 for a hearing and spoke at length about the proposal’s implications. "We've seen this proposal in years past. I continue to have concern about it," Fazio said, adding that Connecticut already has high property taxes and that state and municipal efficiencies should be examined before increasing tax burdens. Representative Paletta reiterated concerns about the local impacts, saying that "locally, folks that are on fixed incomes... they will be disproportionately affected by this proposal." Both speakers said they would vote against raising the bills for hearings.

Committee members proceeded to a roll-call vote on each rule motion. For SB 741 (statewide property tax on certain residential real property), the motion to reserve the bill for a subject-matter public hearing passed by recorded roll call (yes: 25; no: 11). For SB 742 (capital gains surcharge), the motion to reserve the bill for a subject-matter public hearing passed by recorded roll call (yes: 21; no: 7). The committee held the roll calls open for additional in-person and remote votes until 12:30 p.m., as announced by committee staff.

Votes at a glance

- SB 741 — An act concerning a statewide property tax on certain residential real property: Motion to reserve for a subject-matter public hearing. Mover: Senator Fonferro. Second: Representative Winter. Outcome: reserved for public hearing (recorded roll call: yes 25, no 11). Not an endorsement of the underlying bill.

- SB 742 — An act establishing a capital gains surcharge: Motion to reserve for a subject-matter public hearing. Mover: the chair (motion introduced by committee leadership). Second: Representative Doucette. Outcome: reserved for public hearing (recorded roll call: yes 21, no 7). Not an endorsement of the underlying bill.

Committee context and next steps

Committee members and staff emphasized that reserving a bill merely schedules a subject-matter public hearing so members and the public can discuss and provide testimony on the proposals. The chair and staff noted that a hearing date may be set soon and that votes on any substantive action would come later, after hearings and potential revisions.

The committee also announced that votes would be held open until 12:30 p.m. for members participating remotely and in the committee room.