CT SB00171

Establishes a revolving loan account within the General Fund, administered by the Secretary of the Office of Policy and Management, to provide loans to elderly homeowners delinquent on property taxes.

Defines "elderly homeowner" as a homeowner age 65 or older who has resided in the municipality for at least 10 consecutive tax years, occupied the property as primary residence for more than 183 days in at least 8 of the last 10 tax years, and has qualifying income not exceeding the maximum for tax reduction under section 12-170aa.

Permits loans to homeowners who have failed to pay taxes for at least two assessment years, provided the loan principal does not exceed the delinquent taxes, interest, and fees, and the homeowner uses the loan exclusively to pay those obligations.

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

Authorizes the secretary to impose asset limits, require proof of loan use, and impose penalties for misuse of funds; loan assistance does not disqualify recipients from other benefits.

Takes effect October 1, 2022.