CT SB00186

Secretary of the Office of Policy and Management shall determine annual payments due to municipalities by January 1st for housing authority property exempt from property taxes.

Grant amount equals 77% of the property taxes that would have been paid on exempt housing authority real property based on the assessment list from two years prior to the fiscal year in which the grant is payable.

Grants apply to property owned or leased by housing authorities for affordable housing purposes, excluding federally-operated properties, effective beginning in fiscal year 2022-2023.

Total grant payments in any year shall be reduced proportionately if the combined grants exceed the amount appropriated by the legislature for that fiscal year.

Municipalities party to existing contracts under section 8-216 of the general statutes that already receive payments in lieu of taxes are exempt from this new grant program during the contract term.