April 1, 2019Rep. Haines’ Pro-Business Legislation Approved by the Planning and Development Committee
HARTFORD – State Representative Irene Haines (R-34) lauded the approval of her proposed legislation, HB 5644 ‘An Act Concerning the Depreciation Schedule for Commercial Construction Equipment’ in the Planning and Development Committee on Friday, March 29th.
“Construction equipment is not depreciated under a similar percentage scale according to age like all other business equipment but is instead given a value based on similar machines listed for sale,” said Rep. Haines. “If a farmer or a quarry bought a backhoe to use in their commercial business, it would be depreciated on a scale but if the backhoe was bought by a builder, it would not.”