OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-998
AN ACT ESTABLISHING A TAX ABATEMENT FOR CERTAIN
CONSERVATION EASEMENTS.
AMENDMENT
LCO No.: 6949
File Copy No.: 427
Senate Calendar No.: 240
Primary Analyst: LG 4/27/23
Contributing Analyst(s): (FN)
OFA Fiscal Note
See Fiscal Note Details
The amendment strikes the word "shall" and replaces it with "may".
This eliminates the state mandate in the underlying bill and permits,
instead of requires, municipalities to adopt an ordinance that establishes
a property tax abatement for certain portions of land that are subject to
a recreational trail conservation restriction. This changes the revenue
loss from the underlying bill to a potential revenue loss. The potential
revenue loss begins in FY 24 and is dependent on a municipality's
decision to establish the property tax abatement.
As in the original underlying bill, the level of any revenue loss is
dependent on the value of the land that qualifies for the property tax
abatement and the level of the abatement.
The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely
for the purposes of information, summarization and explanation and does not represent the intent of the General
Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of
informational sources, including the analyst’s professional knowledge. Whenever applicable, agency data is
consulted as part of the analysis, however final products do not necessarily reflect an assessment from any
specific department.