Connecticut Senate Bill SB00213

Connecticut 2015 Regular Session

• Introduced: 1/21/15
• Refer: 1/21/15
• Refer: 3/9/15
• Report Pass: 3/24/15
• Refer: 4/6/15
• Report Pass: 4/13/15
• Refer: 4/22/15
• Report Pass: 4/28/15
• Report Pass: 4/30/15
• Refer: 5/5/15
• Report Pass: 5/12/15
• Report Pass: 5/13/15

Caption

An Act Concerning A Municipal Option For Property Tax Abatements For Public Service Company Infrastructure And Natural Gas Expansion.

Impact

The enactment of SB00213 will modify state laws concerning property tax and municipal authority to incentivize investment in essential infrastructure. By enabling municipalities to offer substantial tax abatement incentives, the bill aims to reduce the financial barrier for public service companies looking to expand their services. This approach seeks to foster growth and ensure local entities can develop the necessary infrastructure to meet public demands, particularly in the gas sector.

Summary

Substitute Bill No. 213 is focused on allowing municipalities the option to abate property taxes for public service company infrastructure and natural gas expansion projects. This bill proposes to permit municipalities to abate up to 100% of property taxes due for any public service company infrastructure installed or improved during the previous tax year. The objective behind this legislation is to stimulate infrastructure development and support natural gas expansion, which could potentially enhance service delivery in these areas.

Sentiment

The overall sentiment toward SB00213 appears to be generally favorable among lawmakers and stakeholders who see this as an opportunity to boost local economies through infrastructure upgrades. Supporters argue that this bill would lead to improved public services and increased investments from utility companies. However, there remains a cautious perspective regarding the long-term implications for municipal revenue streams, which might be vulnerable to the extensive abatements proposed.

Contention

A notable point of contention revolves around the concern that significant property tax abatements could lead to substantial decreases in local government revenues, which may impair their ability to fund essential services. Additionally, discussions during the legislative process highlighted the need to balance these incentives against the potential for over-reliance on public service companies for tax revenue. As such, while the bill presents an opportunity for stimulating growth, it also raises questions about sustainable municipal finance.