CT SB00403

Reestablishes the Homeowners' Elderly and Disabled Circuit Breaker Tax Relief Program providing property tax reductions for eligible elderly homeowners (age 65+) and permanently disabled homeowners.

Sets qualifying income limits of $16,200 for unmarried homeowners and $20,000 for married homeowners, adjusted annually based on Social Security inflation adjustments and consumer price index increases.

Provides tax reductions ranging from 10% to 50% of property tax with maximum reductions between $250-$1,250 and minimum reductions between $150-$400, depending on qualifying income bracket and marital status.

Requires homeowners to submit applications biennially between February 1 and May 15, with supporting documentation including federal tax returns and Social Security statements.

Mandates municipalities submit reimbursement claims to the state by July 1 annually, with the state reimbursing municipalities for approved tax reductions by December 31 each year.