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CT HB05093

Bill

Official Source

Status

Introduced

2/9/2016

Primary Sponsor

Douglas Dubitsky

Click for details

Origin

House of Representatives

2016 General Assembly

AI Summary

  • Exempts farm land from estate tax if the land is classified as farm land for property tax assessment purposes under Connecticut General Statutes Section 12-107c
  • Requires heirs to agree to preserve the land as farm land for a minimum of eight or more years to qualify for the exemption
  • Amends Chapter 217 of the general statutes to implement the farm land estate tax exemption
  • Designed to encourage preservation of farm land by reducing the estate tax burden on agricultural properties passed to heirs

Legislative Description

An Act Exempting Certain Farm Land From The Estate Tax.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

2/9/2016

Committee Referrals

Finance, Revenue and Bonding2/9/2016

Full Bill Text

No bill text available