Connecticut 2021 Regular Session

Connecticut Senate Bill SB01102 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
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5	5	LCO No. 6675 1 of 4
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7	7	General Assembly Raised Bill No. 1102
8	8	January Session, 2021
9	9	LCO No. 6675
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11	11
12	12	Referred to Committee on FINANCE, REVENUE AND
13	13	BONDING
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15	15
16	16	Introduced by:
17	17	(FIN)
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22	22	AN ACT CONCERNING A LOAN PROGRAM TO ASSI ST TAXPAYERS
23	23	WITH THE PAYMENT OF CERTAIN REAL PROPERTY TAXES.
24	24	Be it enacted by the Senate and House of Representatives in General
25	25	Assembly convened:
26	26
27	27	Section 1. (Effective July 1, 2021) (a) There is established a property tax 1
28	28	payment loan program under which eligible taxpayers may receive 2
29	29	loans for the payment of certain real property taxes that are delinquent 3
30	30	or of real property taxes due for the 2021 grand list, or both. The 4
31	31	Secretary of the Office of Policy and Management shall use the proceeds 5
32	32	of the sale of the bonds under section 2 of this act to provide such loans 6
33	33	in accordance with the provisions of this section. Any loan provided 7
34	34	under the program shall be amortized over a five-year period 8
35	35	commencing January 1, 2023. The secretary shall provide each 9
36	36	municipality with an amortization schedule for such loans, to be 10
37	37	distributed to taxpayers participating in the program. 11
38	38	(b) (1) To be eligible to receive a loan under the program, a taxpayer 12
39	39	shall have been current on all property taxes prior to January 1, 2020. 13
40	40	Each eligible taxpayer wishing to participate in the loan program shall 14 Raised Bill No. 1102
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44	44	LCO No. 6675 2 of 4
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46	46	register, not later than July 31, 2021, with the municipality to which such 15
47	47	taxpayer owes or will owe real property taxes for any tax period on or 16
48	48	after July 1, 2020, through June 30, 2022. Such taxpayer may request a 17
49	49	loan in the amount of the delinquent real property taxes and interest 18
50	50	owing or the amount of real property taxes due for the 2021 grand list, 19
51	51	or both, as applicable, provided no additional interest shall accrue on or 20
52	52	after August 1, 2021, on delinquent real property taxes for which an 21
53	53	eligible taxpayer has requested a loan pursuant to this section. 22
54	54	(2) Any amount paid by the Office of Policy and Management to a 23
55	55	municipality pursuant to subsection (c) of this section on behalf of a 24
56	56	taxpayer shall constitute a loan made to the taxpayer and each such 25
57	57	taxpayer shall execute, in such form and manner as prescribed by the 26
58	58	Secretary of the Office of Policy and Management, a loan repayment 27
59	59	agreement upon approval of the distribution of funds by the secretary 28
60	60	under subsection (c) of this section. The amount paid to a municipality 29
61	61	on behalf of a taxpayer under the program shall constitute a property 30
62	62	tax lien upon the real property against which the real property tax is 31
63	63	assessed. 32
64	64	(3) Each taxpayer that receives a loan under the program shall remit 33
65	65	each payment required under the repayment agreement to the tax 34
66	66	collector of the municipality to which the real property tax is owed. Each 35
67	67	tax collector shall remit any such payments received to the 36
68	68	Commissioner of Revenue Services, in a form and manner prescribed by 37
69	69	the commissioner. 38
70	70	(c) (1) Each municipality with which a taxpayer has registered for the 39
71	71	loan program shall apply to the Office of Policy and Management, in 40
72	72	such form and manner as the Secretary of the Office of Policy and 41
73	73	Management prescribes, for the amount of property taxes and interest 42
74	74	due such municipality from taxpayers that have registered for the loan 43
75	75	program, and including such information regarding the amounts 44
76	76	requested and each requesting taxpayer as the secretary may require. 45
77	77	The secretary shall promptly review the applications received and 46
78	78	distribute the amount of funds sought to municipalities. 47 Raised Bill No. 1102
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82	82	LCO No. 6675 3 of 4
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84	84	(2) Each municipality shall publicize the availability of and eligibility 48
85	85	requirements for the loan program to its taxpayers and provide 49
86	86	instructions on how an eligible taxpayer may register with the 50
87	87	municipality to receive a loan under the program. 51
88	88	Sec. 2. (Effective July 1, 2021) (a) For the purposes described in 52
89	89	subsection (b) of this section, the State Bond Commission shall have the 53
90	90	power from time to time to authorize the issuance of bonds of the state 54
91	91	in one or more series and in principal amounts not exceeding in the 55
92	92	aggregate three billion dollars. 56
93	93	(b) The proceeds of the sale of such bonds, to the extent of the amount 57
94	94	stated in subsection (a) of this section, shall be used by the Office of 58
95	95	Policy and Management for the purpose of providing loans for the 59
96	96	payment of certain delinquent real property taxes and certain real 60
97	97	property taxes for the 2021 grand list, in accordance with the provisions 61
98	98	of section 1 of this act. 62
99	99	(c) All provisions of section 3-20 of the general statutes, or the exercise 63
100	100	of any right or power granted thereby, that are not inconsistent with the 64
101	101	provisions of this section are hereby adopted and shall apply to all 65
102	102	bonds authorized by the State Bond Commission pursuant to this 66
103	103	section. Temporary notes in anticipation of the money to be derived 67
104	104	from the sale of any such bonds so authorized may be issued in 68
105	105	accordance with section 3-20 of the general statutes and from time to 69
106	106	time renewed. Such bonds shall mature at such time or times not 70
107	107	exceeding five years from their respective dates as may be provided in 71
108	108	or pursuant to the resolution or resolutions of the State Bond 72
109	109	Commission authorizing such bonds. None of such bonds shall be 73
110	110	authorized except upon a finding by the State Bond Commission that 74
111	111	there has been filed with it a request for such authorization that is signed 75
112	112	by or on behalf of the Secretary of the Office of Policy and Management 76
113	113	and states such terms and conditions as said commission, in its 77
114	114	discretion, may require. Such bonds issued pursuant to this section shall 78
115	115	be general obligations of the state and the full faith and credit of the state 79
116	116	of Connecticut are pledged for the payment of the principal of and 80 Raised Bill No. 1102
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119	119
120	120	LCO No. 6675 4 of 4
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122	122	interest on such bonds as the same become due, and accordingly and as 81
123	123	part of the contract of the state with the holders of such bonds, 82
124	124	appropriation of all amounts necessary for punctual payment of such 83
125	125	principal and interest is hereby made, and the State Treasurer shall pay 84
126	126	such principal and interest as the same become due. 85
127	127	This act shall take effect as follows and shall amend the following
128	128	sections:
129	129
130	130	Section 1 July 1, 2021 New section
131	131	Sec. 2 July 1, 2021 New section
132	132
133	133	Statement of Purpose:
134	134	To establish a loan program to assist taxpayers with the payment of
135	135	certain real property taxes.
136	136	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
137	137	that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
138	138	underlined.]
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