Connecticut Senate Bill SB00725

Connecticut 2019 Regular Session

• Introduced: 1/29/19
• Refer: 1/29/19

Caption

An Act Concerning A Payment In Lieu Of Taxes For Improvements Made At The State Pier In New London.

Impact

The enacted provisions of SB00725 would specifically impact the financial framework governing the compensation structure between state and local governments. By increasing the payments in lieu of taxes, the bill aims to alleviate the financial burden that municipal governments like that of New London may experience due to state-funded improvements. This move is intended to sustain local funding for essential services, which may otherwise be compromised due to reduced tax income.

Summary

SB00725 is a legislative proposal aimed at amending the general statutes related to payments in lieu of taxes for improvements made at the state pier in New London. This bill seeks to ensure that the city of New London receives increased financial compensation from the state to offset the loss of tax revenue resulting from these improvements. The rationale behind the bill is to maintain the city's financial health while acknowledging the state's enhancements to the pier's facilities.

Contention

While proponents of the bill advocate for the necessity of these payments to support local economies, there may be concerns regarding the sustainability and adequacy of state funding. Some local officials could argue that merely increasing payments does not address the broader issues of fiscal responsibility and fairness in state-local financial relationships. Additionally, there may be differing opinions on how these adjustments might influence future state investments in local infrastructure and development projects.