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CT SB00424

Bill

Official Source

Status

Introduced

3/4/2016

Primary Sponsor

Planning and Development Committee

Click for details

Origin

Senate

2016 General Assembly

AI Summary

  • Authorizes municipalities to offer tax abatement of up to 80 percent on real and personal property taxes for cyber security, data, incubator, and start-up companies
  • Tax abatement applies only to the first two tax years of a company's operation
  • Companies must have their principal place of business within the municipality offering the abatement
  • Municipalities adopt the abatement through local ordinance (optional, not mandatory)
  • Effective October 1, 2016, for assessment years commencing on or after that date

Legislative Description

An Act Concerning Real And Personal Property Tax Abatement For Certain Companies.

Last Action

Public Hearing 03/11

3/7/2016

Committee Referrals

Planning and Development3/4/2016

Full Bill Text

No bill text available