CT SB00900

Establishes a revolving loan account administered by the Secretary of the Office of Policy and Management to provide loans to elderly homeowners delinquent on property taxes, effective October 1, 2023.

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

Requires applicants to be delinquent on property taxes for at least two assessment years preceding application, with loan principal limited to the amount of delinquent taxes, interest, and fees owed.

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

Permits the secretary to impose asset limits, require proof of loan use, and penalize misuse of funds, while allowing recipients to remain eligible for other benefits under state programs.