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Senate Bill No. 27

Special Act No. 02-1

AN ACT CONCERNING QUALIFYING INCOME FOR PURPOSES OF CERTAIN STATE PROGRAMS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (Effective from passage and applicable to property tax assessment years commencing on or after October 1, 2001, and taxable years of individuals commencing on or after January 1, 2001) (a) Any distribution of cash to an individual from Anthem, Incorporated, resulting from said entity's conversion to a stockholder-owned company, shall be excluded from any calculation of income for purposes of determining the eligibility for, or the benefit level of, such individual under (1) the property tax exemption, property tax credit and rental rebate programs for which the state of Connecticut provides direct or indirect reimbursement, pursuant to sections 12-81g, as amended, 12-129b, 12-170d and 12-170aa, as amended, of the general statutes, (2) the programs adopted at a municipality's option that provide additional property tax exemptions to veterans, totally disabled persons, blind persons and elderly persons, pursuant to sections 12-81f, 12-81i, 12-81j and 12-129n of the general statutes, and (3) the Connecticut Pharmaceutical Assistance Contract to the Elderly and the Disabled Program established under section 17b-491 of the general statutes.

(b) If the distribution to an individual from Anthem, Incorporated, as the result of said entity's conversion to a stockholder-owned company is in the form of stock and the stock is sold by the individual in the taxable year which includes the date of distribution or in any of the two taxable years succeeding such year, the value of the stock on the date of distribution to the individual shall be excluded from any calculation of income for purposes of determining the eligibility for, or the benefit level of, such individual under (1) the property tax exemption, property tax credit and rental rebate programs for which the state of Connecticut provides direct or indirect reimbursement, pursuant to sections 12-81g, as amended, 12-129b, 12-170d and 12-170aa, as amended, of the general statutes, (2) the programs adopted at a municipality's option that provide additional property tax exemptions to veterans, totally disabled persons, blind persons and elderly persons, pursuant to sections 12-81f, 12-81i, 12-81j and 12-129n of the general statutes, and (3) the Connecticut Pharmaceutical Assistance Contract to the Elderly and the Disabled Program established under section 17b-491 of the general statutes.

Approved February 28, 2002