CT SB00880

Secretary of the Office of Policy and Management shall determine annually by January first the amount due to each municipality as a state grant in lieu of taxes for property owned or leased by housing authorities for affordable housing purposes

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

Program becomes effective July 1, 2023, and continues in subsequent fiscal years with proportional reductions if total grants exceed the amount appropriated in any given year

Excludes property operated by the federal government and does not apply to municipalities already receiving payments in lieu of taxes under existing contracts with housing authorities

Takes effect October 1, 2021