General Assembly Proposed Bill No. 722
January Session, 2015 LCO No. 1439
*01439*
Referred to Committee on COMMERCE
Introduced by:
SEN. KELLY, 21st Dist.
General Assembly
Proposed Bill No. 722
January Session, 2015
LCO No. 1439
*01439*
Referred to Committee on COMMERCE
Introduced by:
SEN. KELLY, 21st Dist.
AN ACT CONCERNING LOW-INTEREST LOANS TO MUNICIPALITIES TO PROVIDE PROPERTY TAX RELIEF TO SENIORS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That title 32 of the general statutes be amended to establish a revolving loan fund and require the Department of Economic and Community Development to use such fund to provide low-interest loans to municipalities to finance real property tax relief benefits provided under section 12-170v of the general statutes until such time as such benefits have come due and been paid.
Statement of Purpose:
To provide funding to towns for revenue lost in granting tax relief to elderly homeowners.