Substitute Bill No. 5123 Summary

• Prohibits redevelopment agencies from acquiring property through eminent domain for the primary purpose of increasing local tax revenue or to produce income for private entities, effective October 1, 2019

• Extends the same prohibition to development agencies and implementing agencies conducting municipal development and business development projects under chapters 8 and 32 of the general statutes

• Requires redevelopment plans to exclude land uses that produce income for private entities when acquired through eminent domain, though other commercial, business, and industrial uses remain permitted

• Modifies the definition of "business purpose" to explicitly exclude real property that produces income for a private entity

• Applies retroactively to all property acquisitions on or after October 1, 2019, affecting redevelopment, development, and municipal improvement projects statewide