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CT SB00268
Bill
Status
6/6/2018
Primary Sponsor
Commerce Committee
Click for details
AI Summary
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Extended loan repayment period for brownfield remediation loans from 20 years to 30 years, effective July 1, 2018.
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Expanded notices of activity and use limitation to include prior holders of property interests who sign the notice, allowing them to subject their interests to the restrictions.
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Increased municipal grant authority for brownfield remediation projects to up to $4 million per project, with provisions for additional grants up to 50% of the original award for cost overruns or enhanced environmental benefits.
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Authorized municipalities to enter into property tax abatement and forgiveness agreements with prospective owners of brownfields and abandoned properties who commit to environmental remediation programs.
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Exempted federally approved nuclear submarine construction programs with DX priority rating from environmental impact evaluation requirements.
Legislative Description
An Act Concerning Modifications To Brownfield Remediation Grant And Loan Programs, The Application Of Notices Of Activity And Use Limitation To Certain Prior Holders Of Interest In Property, Property Tax Agreements Between Municipalities And Prospective Purchasers Of Brownfields And Environmental Impact Evaluation Exemptions For Certain Federally Approved Projects.
Last Action
Signed by the Governor
6/6/2018