CT HB05436

Establishes an Urban Site Remediation Fund to be used by the Commissioner of Environmental Protection for assessment and remedial activities at acquired properties, and by the Commissioner of Economic and Community Development for property taxes and program administration (effective October 1, 2010).

Expands the Urban Site Remediation Fund to reimburse directors' and officers' liability and general liability insurance costs for municipal economic development agencies and nonprofit economic development corporations involved in brownfield remediation.

Creates a working group of 11 members with expertise in brownfield redevelopment to examine remediation, permitting, and liability issues, with a report due to the General Assembly by January 15, 2011.

Allows municipalities to grant property tax abatements for up to seven years, forgive delinquent property taxes, or fix property assessments for up to seven years for properties undergoing environmental remediation (effective July 1, 2010).

Permits regulated activities in aquifer protection areas on municipally-owned sites undergoing remedial action, provided the activity was not in operation for the preceding five years and is properly registered with the Commissioner of Environmental Protection.