CT SB00527

Allows municipalities to combine property assessments of an existing electric generating facility (constructed before July 1, 1998) with a new electric generating facility (constructed after July 1, 2019) located at the same site and treat them as a single combined facility for assessment purposes.

Permits municipalities with legislative body approval (before or after July 1, 2019) to fix assessments or taxes for combined electric generating facilities before, during, and after the construction period of the new facility.

Requires fixed assessments or taxes to approximate the projected tax liability of the combined facility based on a reasonable estimation of fair market value as determined by the municipality.

Applicable to assessment years commencing on and after October 1, 2018, with municipal legislative approval effective from the bill's passage.

Defines "electric generating facility" by reference to section 16-50i of Connecticut General Statutes.