General Assembly Proposed Bill No. 5457
January Session, 2015 LCO No. 432
*00432*
Referred to Committee on APPROPRIATIONS
Introduced by:
REP. DILLON, 92nd Dist.
General Assembly
Proposed Bill No. 5457
January Session, 2015
LCO No. 432
*00432*
Referred to Committee on APPROPRIATIONS
Introduced by:
REP. DILLON, 92nd Dist.
AN ACT CONCERNING REIMBURSEMENT TO MUNICIPALITIES UNDER THE PAYMENT IN LIEU OF TAXES GRANT PROGRAMS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the state grant programs that provide payments in lieu of taxes be funded to provide full reimbursement to municipalities where subject property is located to compensate for the revenue lost due to state-mandated property tax exemptions.
Statement of Purpose:
To provide full reimbursement to each municipality where property that is subject to the payment in lieu of taxes grant programs is located in order to fully compensate such municipality for lost property tax revenue.