CT SB00434

Modifies the real estate conveyance tax language to replace "his" with "such purchaser's" for gender-neutral terminology, effective July 1, 2010.

Delays the municipal portion of the conveyance tax rate increase from July 1, 2010 to July 1, 2012, when it will rise to eleven one-hundredths of one percent.

Adds three new exemptions to the conveyance tax: deeds in lieu of foreclosure for principal residences, underwater mortgages where purchase price is insufficient to cover mortgages and municipal charges, and deeds under section 49-24.

Updates section 12-498(a) to clarify that exemptions apply to the tax as amended by this act, effective October 1, 2010.