General Assembly Committee Bill No. 5332
January Session, 2011 LCO No. 3639
*03639HB05332PD_*
Referred to Committee on Planning and Development
Introduced by:
(PD)
General Assembly
Committee Bill No. 5332
January Session, 2011
LCO No. 3639
*03639HB05332PD_*
Referred to Committee on Planning and Development
Introduced by:
(PD)
AN ACT REQUIRING MUNICIPALITIES THAT REGIONALIZE TO PROVIDE PROPERTY TAX RELIEF.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective July 1, 2011) (a) For purposes of this section:
(1) "Municipality" means any town, city or borough, consolidated town and city or consolidated town and borough;
(2) "Agreement" means an interlocal agreement pursuant to sections 7-339a to 7-339l, inclusive, of the general statutes or any other agreement between two or more municipalities for the purpose of providing a municipal service;
(3) "Significant savings" is an amount equal to or greater than five million dollars; and
(4) "Eligible property owner" means the owner-occupant of any single-family residential property.
(b) For fiscal years commencing on or after July 1, 2011, each municipality shall determine whether it realized a significant savings in the previous fiscal year as a result of entering into one or more agreements. To calculate such savings, a municipality shall, for each agreement, subtract the amount such municipality paid for a municipal service under the agreement from the amount the municipality would have paid for such service but for the agreement.
(c) For assessment years commencing on or after October 1, 2011, any municipality that realized a significant savings in the previous fiscal year as a result of entering into one or more agreements shall return half of any amount realized in excess of ten million dollars to eligible property owners who reside within such municipality in the form of a property tax credit to be applied on a pro rata basis.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2011 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2011
New section
Statement of Purpose:
To provide property tax relief to residents of municipalities that realize substantial savings as a result of regionalism efforts.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]
Co-Sponsors: REP. GROGINS, 129th Dist.; REP. O'BRIEN E., 61st Dist.
Co-Sponsors:
REP. GROGINS, 129th Dist.; REP. O'BRIEN E., 61st Dist.
H.B. 5332