AN ACT CONCERNING PAYMENTS IN LIEU OF TAXES FOR PROPERTY OF NONPROFIT ORGANIZATIONS.


General Assembly		*Proposed Bill No. 5293*
*February Session, 2008*		LCO No. 1094

Referred to Committee on Planning and Development
Introduced by:
REP. AYALA, 128^th Dist.

AN ACT CONCERNING PAYMENTS IN LIEU OF TAXES FOR PROPERTY OF NONPROFIT ORGANIZATIONS.

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

That section 12-12a of the general statutes, concerning payments in lieu of taxes on real property of colleges and hospitals, be amended to authorize a payment in lieu of taxes to municipalities in which twenty-five per cent of the real property is exempt from taxation.

Statement of Purpose:

To provide funds to municipalities where more than twenty-five per cent of the land is held by tax-exempt organizations.