Loading chat...

CT HB05338

Bill

Official Source

Status

Introduced

1/18/2011

Primary Sponsor

Anthony Musto

Click for details

Origin

House of Representatives

2011 General Assembly

AI Summary

  • Creates a revenue-sharing agreement system between municipalities with fiscal disparities and other municipalities in the same planning region, effective October 1, 2011
  • Allows municipalities in the same region to establish nonresidential property mill rates matching those of fiscally-distressed municipalities, with shared revenues limited to properties subject to the new mill rate
  • Requires Secretary of the Office of Policy and Management approval that agreements will reduce property taxes in the fiscally-distressed municipality before implementation
  • Makes nonresidential properties subject to increased mill rates eligible for the same incentives, abatements, and benefits available to similar properties in the fiscally-distressed municipality
  • Intended to allow municipalities to partner with financially struggling cities to reduce tax burdens on homeowners

Legislative Description

An Act Concerning Incentives For Municipal Revenue Sharing.

Last Action

Public Hearing 03/04

2/28/2011

Committee Referrals

Planning and Development1/18/2011

Full Bill Text

No bill text available