CT SB01102

Establishes a property tax payment loan program effective July 1, 2021, allowing eligible taxpayers to receive loans for delinquent property taxes or taxes due for the 2021 grand list, with loans amortized over five years beginning January 1, 2023

Requires taxpayers to have been current on all property taxes prior to January 1, 2020 to be eligible, and must register with their municipality by July 31, 2021

Stops additional interest from accruing after August 1, 2021 on delinquent property taxes for taxpayers who request a loan, with the loan amount constituting a property tax lien on the assessed property

Authorizes the State Bond Commission to issue up to $3 billion in general obligation bonds to fund the loan program, with bonds maturing within five years

Requires municipalities to publicize the program and process applications through the Office of Policy and Management, which will distribute funds directly to municipalities on behalf of participating taxpayers