General Assembly Proposed Bill No. 621
January Session, 2011 LCO No. 1213
Referred to Committee on Aging
Introduced by:
SEN. KELLY, 21st Dist.
General Assembly
Proposed Bill No. 621
January Session, 2011
LCO No. 1213
Referred to Committee on Aging
Introduced by:
SEN. KELLY, 21st Dist.
AN ACT ESTABLISHING A REVOLVING LOAN FUND FOR PAYMENT OF PROPERTY TAXES FOR ELDERLY HOMEOWNERS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to establish a revolving loan fund to provide loans at prevailing interest rates for the payment of property taxes to any resident of the state who: (1) Is seventy years of age or older; (2) has one hundred per cent equity in the real property subject to property taxes; (3) has resided in the municipality for at least ten years prior to applying for such loan; (4) has income and assets not in excess of certain amounts; and (5) has not paid property taxes for at least two years prior to applying for such loan. The state may secure any such loan by establishing a lien on the real property subject to property taxes.
Statement of Purpose:
To provide loans to seniors to allow them to remain in their homes.