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General Assembly Substitute Bill No. 1091
January Session, 2025
AN ACT CONCERNING A STUDY OF PROJECTED FINANCIAL
IMPACTS OF CERTAIN MODIFICATIONS TO THE BASIC PROPERTY
TAX EXEMPTION FOR VETERANS AND CERTAIN OTHER MILITARY -
RELATED INDIVIDUALS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (Effective July 1, 2025) The Secretary of the Office of Policy 1
and Management shall study the projected impacts on state and 2
municipal finances of (1) increasing the allowable exemption amount 3
under subdivision (19) of section 12-81 of the general statutes for 4
property belonging to or held in trust for veterans and certain other 5
military-related individuals, and (2) imposing a limit on the allowable 6
amount of property belonging to or held in trust for any veteran or 7
military-related individual in order for such veteran or military-related 8
individual to be eligible for such exemption. Not later than February 1, 9
2026, said secretary shall submit, in accordance with the provisions of 10
section 11-4a of the general statutes, a report detailing the results of such 11
study and any recommendations for legislation to the joint standing 12
committees of the General Assembly having cognizance of matters 13
relating to veterans' and military affairs, finance, revenue and bonding, 14
appropriations and the budgets of state agencies and planning and 15
development. 16 Substitute Bill No. 1091
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This act shall take effect as follows and shall amend the following
sections:
Section 1 July 1, 2025 New section
Statement of Legislative Commissioners:
The title was changed.
VA Joint Favorable Subst.