Connecticut Senate Bill SB00239

Connecticut 2023 Regular Session

• Introduced: 1/17/23
• Refer: 1/17/23

Caption

An Act Concerning A Revolving Loan Fund To Assist Certain Elderly Persons Delinquent On Property Tax Payments.

Impact

If enacted, SB00239 would amend existing state statutes to create a dedicated funding mechanism designed to support elderly individuals in paying their property taxes. The establishment of a revolving loan fund signifies the state's commitment to assist its senior residents, reflecting a growing recognition of the unique challenges they face concerning housing stability and financial security. By providing such assistance, the bill aims to mitigate the risk of displacement for elderly citizens and promote their continued residency in their homes.

Summary

SB00239 is a legislative proposal aimed at establishing a revolving loan fund that would provide financial assistance to certain elderly individuals who have become delinquent on their property tax payments. The intent of the bill is to help elderly homeowners who may face financial difficulties in keeping up with property tax obligations, thereby allowing them to remain in their homes and avoid foreclosure or property loss. This initiative is particularly crucial as it addresses the financial vulnerabilities often faced by aging citizens, ensuring they can continue to live independently.

Contention

While the proposed bill is likely to receive support from community advocates and senior citizens' organizations, potential points of contention may arise regarding the funding sources for the revolving loan fund and the eligibility criteria for accessing the loans. Critics may raise concerns about the sustainability of the fund and whether it adequately addresses the complexities of property tax delinquency or the financial situations of the elderly. Additionally, discussions around ensuring equitable access to the program for all eligible individuals may also emerge as significant points of debate.