CT SB01074

Municipalities may vote to abate up to 100 percent of property taxes for gas companies and pipeline companies on real or personal property to reduce natural gas expansion project costs.

Tax abatement authority applies to any gas company or pipeline company as defined in Connecticut General Statutes section 16-1.

Gas and pipeline companies must include the abated tax amount when calculating the hurdle rate for gas expansion projects under section 16-19ww of the general statutes.

Effective date is October 1, 2015, and applies to assessment years beginning on or after that date.