CT HB05583

Requires private nonprofit institutions of higher learning and hospital facilities to pay real property taxes on a graduated scale starting October 1, 2014: 20% (2014-15), 40% (2015-16), 60% (2016-17), 80% (2017-18), and 100% (2018 onward).

Establishes state grants for reimbursement equal to 77% of property taxes paid by these institutions and facilities, with any amount exceeding 77% paid to municipalities as grants in lieu of taxes.

Exempts institutions and facilities that have voluntary agreements with their municipalities to pay taxes at amounts higher than the state-mandated percentages from this requirement.

Requires institutions and facilities to submit documentation by August 1 annually showing assessed property values and taxes paid, with a $250 penalty for non-compliance that may be waived by the Secretary of the Office of Policy and Management.

Allocates $20,123,916 from the Mashantucket Pequot and Mohegan Fund to eligible institutions and facilities in addition to regular state grants, ensuring total reimbursement does not exceed 100% of property taxes paid.