CT SB00181

Establishes a two-year pilot program beginning July 1, 2018 in the towns of Bethany, Bolton, Lyme, and New London to generate funds for open space preservation.

Authorizes participating municipalities to impose a buyer's fee of up to one percent on residential real property sales where the consideration exceeds $150,000.

Allows municipalities to retain collected fees in a separate account for purchasing, preserving, or stewarding open space land including water resources, forest land, and farm land, or for repaying municipal bonds for these purposes.

Exempts conveyances that result in perpetual preservation of open space land and certain other deeds and transfers listed in section 12-498 of the general statutes from the fee.

Requires the Secretary of the Office of Policy and Management to report to the joint standing committee on planning and development by July 1, 2020 regarding the pilot program's status and recommendations for expansion or modification.