CT HB05351

Establishes the "Elderly Homeowner Property Tax Revolving Loan Fund" to provide low-interest loans to elderly homeowners for unpaid property taxes, effective July 1, 2014.

Defines eligible borrowers as homeowners age 65 or older who have resided in the municipality for at least 10 years and have qualifying income not exceeding limits set in section 12-170aa of the general statutes.

Requires borrowers to have failed to pay property taxes for at least two consecutive assessment years prior to application, and limits loan principal to the amount of taxes owed.

Grants the Secretary of the Office of Policy and Management authority to impose asset limits and establish a state lien on the property for the loan amount plus prevailing interest, with priority over all liens except municipal property tax liens.

Specifies that receiving a loan under this program does not disqualify elderly homeowners from other tax relief benefits available under sections 12-129b through 12-129d, 12-129n, or 12-170aa of the general statutes.