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CT SB00693
Bill
Status
1/25/2013
Primary Sponsor
Planning and Development Committee
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AI Summary
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Defines "major construction activity" as sewer, water, or road projects by state agencies or municipalities that interrupt business operations for six or more consecutive months
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Requires municipalities to abate real and personal property taxes for affected businesses on a pro rata basis proportional to the length of construction activity
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Mandates state reimbursement to municipalities through grants in lieu of taxes equal to the amount of property tax abatements provided to businesses affected by state-undertaken construction projects
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Requires state agencies to notify the Secretary of the Office of Policy and Management within 60 days of construction approval, with the secretary then notifying affected municipalities and establishing procedures for property valuation and grant certification
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Effective October 1, 2013, with payment by state Comptroller and Treasurer required within specified timeframes after certification of amounts due to each municipality
Legislative Description
An Act Concerning Property Tax Relief For Businesses Affected By Major Construction Activities.
Last Action
Favorable Change of Reference, House to Committee on Finance, Revenue and Bonding
4/4/2013