PA 08-10—sSB 495
Planning and Development Committee
AN ACT CONCERNING ELIGIBILITY FOR THE PUBLIC HOUSING PILOT PROGRAM AND THE LOW AND MODERATE INCOME HOUSING TAX ABATEMENT
SUMMARY: This act allows the economic and community development commissioner to continue reimbursing municipalities for property tax abatements and exemptions granted to low- and moderate-income housing. It does so by changing provisions specifying the circumstances under which she must end these reimbursements, which are authorized under two statutory programs.
One program allows municipalities to abate property taxes on privately-owned multifamily housing if the owner agrees to keep the rents affordable for low- and moderate-income people. Under prior law, the commissioner could reimburse municipalities for these abatements for up to 40 consecutive years. The act eliminates this sunset provision.
The other program exempts public housing authorities (PHA) from paying property taxes on moderate rental housing projects they developed with state funds. Prior law allowed the commissioner to reimburse municipalities for the revenue loss as long as the PHAs owned the projects. Under the act, she may continue reimbursing a project after a public or private entity acquired and redeveloped it with her approval.
EFFECTIVE DATE: July 1, 2008
OLR Tracking: JR: GC: PF: dw