CT SB00805

Establishes the "Elderly Homeowner Property Tax Revolving Loan Fund" as a nonlapsing account within the General Fund, administered by the Secretary of the Office of Policy and Management, effective October 1, 2019.

Defines eligible elderly homeowners as those age 65 or older who have resided in their municipality for at least 10 years and have qualifying income not exceeding limits set in section 12-170aa of the general statutes.

Authorizes loans to elderly homeowners who have failed to pay property taxes for at least two assessment years, provided the property is unencumbered and the loan principal does not exceed the amount of unpaid taxes owed.

Creates a state lien on the property in the amount of the loan plus prevailing interest, with priority over all liens except municipal property tax liens.

Permits the Secretary to impose asset limits as an eligibility condition and to adopt regulations specifying application procedures and loan priorities.