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CT HB05585
Bill
Status
Passed
6/20/2011
Primary Sponsor
Martin Looney
Click for details
AI Summary
- Allows municipalities with designated rehabilitation areas to enter into agreements fixing property assessments at the date of agreement for up to seven years during rehabilitation or construction
- Permits assessment deferral for up to eleven years after completion of rehabilitation or construction, with minimum ten percent of increase assessed annually until fully assessed
- Expands eligible uses to include new multifamily rental housing, cooperative housing, common interest communities, and mixed-use or commercial structures on brownfield properties
- Requires completed rehabilitation or construction to be inspected and certified by local building official for compliance with established criteria and applicable building, health, and housing codes
- Tax deferral terminates upon sale or transfer of property for purposes other than those specified in the agreement, unless the municipality consents
Legislative Description
An Act Concerning Designated Rehabilitation Areas.
Last Action
Signed by the Governor
7/8/2011
Committee Referrals
Planning and Development1/20/2011
Full Bill Text
No bill text available