CT HB05718

Reduces the minimum improvement cost threshold for municipal tax abatements from $25,000 to $10,000 for projects with improvements lasting up to three years and covering up to 50% of increased assessment.

Adds mixed-use development (as defined in section 8-13m) as a new eligible use for municipal tax abatement agreements alongside office, retail, residential, manufacturing, transportation, and other specified uses.

Establishes the Rentschler Field Improvement District in East Hartford as a special district encompassing approximately 135.84 acres with authority to levy taxes, fees, and benefit assessments to finance infrastructure improvements.

Authorizes the Rentschler Field Improvement District to issue up to $100 million in bonds to finance infrastructure improvements, with bonds secured by district revenues, fees, or benefit assessments rather than the state or town's full faith and credit.

Exempts projects within the district from certain retail shopping center limitations under section 32-285 and from restrictions on financial assistance, allowing greater flexibility for economic development incentives.