OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

SB-495

AN ACT CONCERNING THE PUBLIC HOUSING PILOT PROGRAM AND THE LOW AND MODERATE INCOME HOUSING TAX ABATEMENT.

AMENDMENT

LCO No.: 3958

File Copy No.: 177

Senate Calendar No.: 153

OFA Fiscal Note

State Impact: None

Municipal Impact:

Municipalities

Effect

FY 08

Various Municipalities

Removes Potential Revenue Loss in Bill

See Below

Explanation

The amendment removes the potential revenue loss to municipalities associated with refunding payments collected in FY 08 in lieu of the state reimbursement under the moderate rental housing Payment-in-Lieu-of-Taxes and the Tax Abatement programs.

sHB 5031, “AAC Payment in Lieu of Taxes for Public Housing and the Low and Moderate Income Tax Abatement Program, ” as amended by House A, provides funding for such reimbursements.

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 chamber thereof for any purpose.