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General Assembly Committee Bill No. 5254
January Session, 2019
LCO No. 3401
Referred to Committee on ENVIRONMENT
Introduced by:
(ENV)
AN ACT ESTABLISHING A PILOT PROGRAM AUTHOR IZING
MUNICIPALITIES TO IMPOSE A BUYER'S CONVE YANCE FEE ON
REAL PROPERTY TO FUN D THE PURCHASE AND S TEWARDSHIP
OF OPEN SPACE.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (NEW) (Effective from passage) (a) A municipality may 1
impose, by vote of the legislative body of such municipality, a buyer's 2
tax on the conveyance of real property, occurring on or after July 1, 3
2019, at the rate of not more than one per cent of the consideration paid 4
by the buyer in excess of one hundred fifty thousand dollars. Such tax 5
may be retained by the municipality, shall be kept in a separate 6
account and shall be used for any of the following purposes approved 7
by the Office of Policy and Management: (1) Purchase of development 8
rights related to or the purchase of open space land, forest land, farm 9
land or waterfront property by the municipality or by the municipality 10
in cooperation with the state or federal government or with a private 11
organization such as a land trust, (2) brownfield remediation, or (3) 12
other environmental projects. 13
(b) Conveyances resulting in the preservation of open space land, 14
Committee Bill No. 5254
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forest or farm land shall be exempt from any tax imposed pursuant to 15
the provisions of subsection (a) of this section. 16
This act shall take effect as follows and shall amend the following
sections:
Section 1 from passage New section
Statement of Purpose:
To enable municipalities such as Bolton, Bozrah, Bloomfield, Bethany,
Coventry, Hartford, Lyme, New London, Norfolk, North Stonington
and Warren to impose a conveyance tax on certain real property sales
in order to generate funds for the preservation of open space.
Co-Sponsors: REP. GRESKO, 121st Dist.
H.B. 5254