Connecticut Senate Bill SB00527

Connecticut 2019 Regular Session

• Introduced: 1/24/19
• Refer: 1/24/19
• Refer: 3/25/19
• Report Pass: 3/25/19
• Refer: 4/4/19
• Report Pass: 4/10/19
• Refer: 5/8/19
• Report Pass: 5/14/19
• Engrossed: 6/5/19
• Report Pass: 6/5/19
• Chaptered: 6/19/19
• Enrolled: 6/24/19
• Passed: 7/1/19

Caption

An Act Permitting Municipalities To Combine The Property Assessments Of Multiple Electric Generating Facilities.

Impact

If enacted, SB 527 would modify existing statutes related to property assessments for electric generating facilities, particularly for those completed after July 1, 1998. It allows municipalities to treat these facilities as if located within an enterprise zone, permitting them to negotiate taxes based on projected liabilities rather than strictly on current assessments. This flexibility is intended to encourage investment in energy infrastructure while providing municipalities with the tools to manage their local economies effectively.

Summary

Senate Bill 527, known as 'An Act Permitting Municipalities To Combine The Property Assessments Of Multiple Electric Generating Facilities', aims to allow municipalities in the state to collectively assess the property of electric generating facilities. This legislation is designed to support the development of new electric generation facilities by facilitating a streamlined assessment process, particularly when facilities are combined under local governance. By enabling these assessments, the bill seeks to promote economic growth and local revenue generation in the energy sector.

Sentiment

Discussions around SB 527 reflected a generally positive sentiment among proponents, who view the bill as a proactive step in strengthening local governance and economic development through energy production. However, there could also be concerns from some community members about the implications of combined assessments on local revenue distribution and the ability of municipalities to independently manage their fiscal responsibilities.

Contention

Notable points of contention may arise regarding how the combined assessments will impact existing facilities and local tax revenues. There are potential concerns that larger generating facilities might overshadow smaller ones in terms of assessment and tax negotiations, possibly leading to inequities in revenue distribution. These dynamics may create debate among stakeholders about the balance between fostering economic development and ensuring fair taxation for all facilities, regardless of size.