General Assembly Proposed Bill No. 260
January Session, 2011 LCO No. 2155
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. LOONEY, 11th Dist.
General Assembly
Proposed Bill No. 260
January Session, 2011
LCO No. 2155
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. LOONEY, 11th Dist.
AN ACT CONCERNING THE PENALTY FOR FILING INCORRECT RENTAL INCOME INFORMATION.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That section 12-63x of the general statutes be amended to provide that persons who fail to submit required rental income information to the assessor shall be subject to a penalty equal to a five per cent increase in the assessed value of the property for that assessment year, rather than to the current ten per cent penalty.
Statement of Purpose:
To lower the penalty for failing to file rental income information with the assessor from ten per cent to five per cent, unless such failure was done with intent to defraud, in which case the current ten per cent penalty shall be maintained.