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CT SB00778
Bill
Status
1/17/2025
Primary Sponsor
Paul Cicarella
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AI Summary
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Creates a tax credit equal to 10% of qualified conversion expenditures for property owners who convert commercial or industrial buildings into residential or mixed-use developments
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Requires that 10% of units in converted developments be designated as affordable housing
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Awards municipalities one-quarter (0.25) housing unit-equivalent point for each unrestricted dwelling unit created through such conversions upon issuance of a certificate of occupancy
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Introduced by Sen. Cicarella (34th District) and Sen. Gordon (35th District), referred to the Housing Committee
Legislative Description
An Act Establishing A Tax Credit And Awarding Housing Unit-equivalent Points For The Conversion Of Commercial And Industrial Properties For Residential Use.
Last Action
Referred to Joint Committee on Housing
1/17/2025