OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 ¯ (860) 240-0200

http: //www.cga.ct.gov/ofa

HB-5093

AN ACT CONCERNING PROPERTY TAX RELIEF FOR CERTAIN ELDERLY HOMEOWNERS.

AMENDMENT

LCO No.: 5220

File Copy No.: 558

House Calendar No.: 370

OFA Fiscal Note

State Impact: None

Municipal Impact:

Municipalities	Effect	FY 11	FY 12
Various Municipalities	See Below	See Below	See Below

Explanation

Beginning in FY 011 and thereafter, in the event a municipality receives less than 80% reimbursement from the state for property taxes due for manufacturing machinery and equipment, the amendment permits a municipality, upon vote of its municipal body, to levy a tax for the difference between the amount due and that which is received.

It is unknown whether future appropriations will be sufficient to fully reimburse towns, and whether any municipalities will avail themselves of such ability to levy a tax to make up the difference.

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 House thereof for any purpose.