| 19 | | - | Section 1. (Effective July 1, 2025) The Secretary of the Office of Policy 1 |
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| 20 | | - | and Management shall study the projected impacts on state and 2 |
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| 21 | | - | municipal finances of (1) increasing the allowable exemption amount 3 |
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| 22 | | - | under subdivision (19) of section 12-81 of the general statutes for 4 |
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| 23 | | - | property belonging to or held in trust for veterans and certain other 5 |
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| 24 | | - | military-related individuals, and (2) imposing a limit on the allowable 6 |
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| 25 | | - | amount of property belonging to or held in trust for any veteran or 7 |
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| 26 | | - | military-related individual in order for such veteran or military-related 8 |
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| 27 | | - | individual to be eligible for such exemption. Not later than February 1, 9 |
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| 28 | | - | 2026, said secretary shall submit, in accordance with the provisions of 10 |
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| 29 | | - | section 11-4a of the general statutes, a report detailing the results of such 11 |
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| 30 | | - | study and any recommendations for legislation to the joint standing 12 |
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| 31 | | - | committees of the General Assembly having cognizance of matters 13 |
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| 32 | | - | relating to veterans' and military affairs, finance, revenue and bonding, 14 |
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| 33 | | - | appropriations and the budgets of state agencies and planning and 15 |
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| 34 | | - | development. 16 Substitute Bill No. 1091 |
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| 26 | + | Section 1. Subdivision (19) of section 12-81 of the general statutes is 1 |
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| 27 | + | repealed and the following is substituted in lieu thereof (Effective October 2 |
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| 28 | + | 1, 2025, and applicable to assessment years commencing on or after October 1, 3 |
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| 29 | + | 2025): 4 |
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| 30 | + | (19) Subject to the provisions of sections 12-89, 12-90 and 12-95, 5 |
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| 31 | + | property to the amount of [one] twenty thousand dollars belonging to, 6 |
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| 32 | + | or held in trust for, (A) any resident of this state who is a veteran, as 7 |
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| 33 | + | defined in section 27-103, who was a member of the armed forces in 8 |
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| 34 | + | service in time of war, (B) any resident of this state who was a citizen of 9 |
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| 35 | + | the United States at the time of his enlistment and who was in the 10 |
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| 36 | + | military or naval service of a government allied or associated with that 11 |
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| 37 | + | of the United States during the Second World War and received an 12 |
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| 38 | + | honorable discharge therefrom, (C) any resident of this state who served 13 |
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| 39 | + | during the Second World War as a member of any armed force of any 14 |
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| 40 | + | Committee Bill No. 1091 |
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| 45 | + | government signatory to the United Nations Declaration of January 1, 15 |
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| 46 | + | 1942, and participated in armed conflict with an enemy of the United 16 |
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| 47 | + | States and who has been a citizen of the United States for at least ten 17 |
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| 48 | + | years and presents satisfactory evidence of such service, (D) any 18 |
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| 49 | + | resident of this state who served as a member of the crew of a merchant 19 |
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| 50 | + | vessel during the Second World War and is qualified with respect to 20 |
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| 51 | + | such service as a member of the group known as the "American 21 |
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| 52 | + | Merchant Marine in ocean-going service during the period of armed 22 |
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| 53 | + | conflict, December 7, 1941, to August 15, 1945", members of which are 23 |
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| 54 | + | deemed to be eligible for certain veterans benefits under a 24 |
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| 55 | + | determination in the United States Department of Defense, as recorded 25 |
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| 56 | + | in the Federal Register of February 1, 1988, provided such resident has 26 |
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| 57 | + | received an armed forces discharge certificate from the Department of 27 |
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| 58 | + | Defense on the basis of such service, (E) any member of the armed forces 28 |
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| 59 | + | who was in service in time of war and is still in the service and by reason 29 |
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| 60 | + | of continuous service has not as yet received a discharge, (F) any person 30 |
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| 61 | + | who is retired from the armed forces after thirty years of service because 31 |
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| 62 | + | he has reached the age limit prescribed by law or because he suffers 32 |
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| 63 | + | from mental or physical disability, or (G) any person who is serving in 33 |
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| 64 | + | the armed services in time of war; or lacking said amount of property in 34 |
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| 65 | + | his own name, so much of the property belonging to, or held in trust for, 35 |
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| 66 | + | his spouse, who is domiciled with him, as is necessary to equal said 36 |
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| 67 | + | amount, except that no such resident, member or person with property 37 |
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| 68 | + | in an amount equal to or greater than seven hundred fifty thousand 38 |
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| 69 | + | dollars shall be eligible for the exemption provided for in this 39 |
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| 70 | + | subdivision. For the purposes of this subdivision, "veteran", "armed 40 |
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| 71 | + | forces" and "service in time of war" have the same meanings as provided 41 |
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| 72 | + | in section 27-103; 42 |
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| 47 | | - | VA Joint Favorable Subst. |
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| 84 | + | LCO No. 4212 3 of 3 |
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| 85 | + | |
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| 86 | + | |
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| 87 | + | Statement of Purpose: |
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| 88 | + | To (1) provide an increase in the exemption amount for property |
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| 89 | + | belonging to veterans and certain other military-related individuals, |
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| 90 | + | and (2) provide that any such veteran or other military-related |
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| 91 | + | individual with property in an amount equal to or greater than seven |
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| 92 | + | hundred fifty thousand dollars is ineligible for such exemption. |
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| 93 | + | |
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| 94 | + | [Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except |
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| 95 | + | that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not |
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| 96 | + | underlined.] |
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| 97 | + | |
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| 98 | + | Co-Sponsors: SEN. OSTEN, 19th Dist.; REP. NOLAN, 39th Dist. |
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| 99 | + | |
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| 100 | + | S.B. 1091 |
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| 101 | + | |
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