CT SB00484

Amends Section 12-65b to add a fourth option allowing municipalities to fix property assessments for improvements to retail business properties for a period of years specified in a municipal ordinance, in addition to existing options based on improvement costs.

Defines "improvements to be constructed" to include rehabilitation of existing structures for retail business use.

Amends Section 12-65h to extend assessment agreement provisions to wholesale and retail businesses, previously limited to manufacturing facilities.

Lowers the personal property assessment increase threshold for wholesale and retail businesses to $25,000 for three-year agreements (from $10,000 existing threshold).

Both amendments become effective October 1, 2014.