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HB 5314

AN ACT RELATING TO TAXATION -- THE PARKING SERVICES TAXATION ACT

2025 Regular Session Introduced by Edith Ajello and 7 co-sponsors

Overview: HB 5314, AN ACT RELATING TO TAXATION -- THE PARKING SERVICES TAXATION ACT. The bill was introduced on March 14, 2025 and the committee recommended that the measure be hel

04/03/2025 Committee recommended measure be held for further study
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Bill Summary · HB 5314

Overview: HB 5314, AN ACT RELATING TO TAXATION -- THE PARKING SERVICES TAXATION ACT. The bill was introduced on March 14, 2025 and the committee recommended that the measure be held for further study on 04/03/2025.

Purpose and Intent: The main purpose of this bill is to establish a new tax on parking services in the state, with the goal of generating additional revenue for various public programs and initiatives.

Key Provisions:
- Imposes a tax on the provision of parking services, including both public and private parking facilities
- Establishes the Parking Services Taxation Act to govern the collection and administration of the new tax
- Specifies the tax rate and outlines the reporting and payment requirements for parking service providers
- Designates the use of the tax revenue for specific purposes, such as transportation infrastructure, public transit, and environmental initiatives

Affected Parties and Impacts:
- Parking service providers, including owners and operators of parking lots, garages, and other facilities, will be responsible for collecting and remitting the new tax
- Consumers of parking services may see an increase in prices due to the tax, which could impact their overall cost of living and transportation expenses
- The state government will receive additional revenue from the new tax, which can be used to fund various public programs and initiatives

Procedural and Timeline Considerations:
The bill has been recommended to be held for further study by the committee, indicating that additional review and consideration is needed before it can proceed to a vote by the full legislature. The next steps will involve the committee gathering more information, potentially holding public hearings, and determining whether to move the bill forward or make further revisions.

Compiled from official sources — confirm details with the bill’s official record.

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