CT SB00621

Establishes the "Elderly Homeowner Property Tax Revolving Loan Fund" to provide loans to homeowners aged 70 and older who have resided in their municipality for at least 10 years and have qualifying income below limits set in section 12-170aa of the general statutes.

Allows the Commissioner of Economic and Community Development to provide loans at prevailing interest rates to elderly homeowners who have failed to pay property taxes for at least two assessment years preceding their application, with principal not exceeding the amount of unpaid taxes.

Requires the state to establish a lien on the property in the amount of the loan plus interest, with the lien receiving priority in settlement of the homeowner's estate.

Specifies that loans made under this section do not disqualify elderly homeowners from other tax relief benefits under sections 12-129b to 12-129d, 12-129n, or 12-170aa of the general statutes.

Effective July 1, 2011.