| 25 | | - | Section 1. (NEW) (Effective from passage) (a) A municipality may 1 |
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| 26 | | - | impose, by vote of the legislative body of such municipality, a buyer's 2 |
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| 27 | | - | tax on the conveyance of real property, occurring on or after July 1, 3 |
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| 28 | | - | 2019, at the rate of not more than one per cent of the consideration paid 4 |
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| 29 | | - | by the buyer in excess of one hundred fifty thousand dollars. Such tax 5 |
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| 30 | | - | may be retained by the municipality, shall be kept in a separate 6 |
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| 31 | | - | account and shall be used for any of the following purposes approved 7 |
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| 32 | | - | by the Office of Policy and Management: (1) Purchase of development 8 |
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| 33 | | - | rights related to or the purchase of open space land, forest land, farm 9 |
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| 34 | | - | land or waterfront property by the municipality or by the municipality 10 |
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| 35 | | - | in cooperation with the state or federal government or with a private 11 |
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| 36 | | - | organization such as a land trust, (2) brownfield remediation, or (3) 12 |
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| 37 | | - | other environmental projects. 13 |
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| 38 | | - | (b) Conveyances resulting in the preservation of open space land, 14 |
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| 39 | | - | Committee Bill No. 5254 |
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| 40 | | - | |
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| 41 | | - | |
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| 42 | | - | LCO No. 3401 2 of 2 |
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| 43 | | - | |
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| 44 | | - | forest or farm land shall be exempt from any tax imposed pursuant to 15 |
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| 45 | | - | the provisions of subsection (a) of this section. 16 |
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| 46 | | - | This act shall take effect as follows and shall amend the following |
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| 47 | | - | sections: |
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| 48 | | - | |
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| 49 | | - | Section 1 from passage New section |
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| 50 | | - | |
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| 25 | + | That the general statutes be amended to establish a pilot program 1 |
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| 26 | + | authorizing the towns of Bethany, Bozrah, Coventry, Hartford, Lyme, 2 |
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| 27 | + | Norfolk, North Stonington, and any other interested municipality to 3 |
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| 28 | + | impose a buyer's conveyance fee on real property sales in order to 4 |
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| 29 | + | generate funds for the purchase, preservation and stewardship of open 5 |
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| 30 | + | space, including water resources, farmland, and forest land, and the 6 |
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| 31 | + | repayment of municipal bonds for such purpose. 7 |
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| 52 | | - | To enable municipalities such as Bolton, Bozrah, Bloomfield, Bethany, |
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| 53 | | - | Coventry, Hartford, Lyme, New London, Norfolk, North Stonington |
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| 54 | | - | and Warren to impose a conveyance tax on certain real property sales |
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| 55 | | - | in order to generate funds for the preservation of open space. |
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| 56 | | - | |
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| 57 | | - | Co-Sponsors: REP. GRESKO, 121st Dist. |
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| 58 | | - | |
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| 59 | | - | H.B. 5254 |
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| 33 | + | To authorize towns to impose a real estate buyer's conveyance fee to |
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| 34 | + | generate funds for the purchase of open space. |
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