House Bill No. 5596
Special Act No. 16-14
AN ACT REQUIRING A STUDY CONCERNING CERTAIN STATE TAX LAWS AND AUTHORIZING CERTAIN MUNICIPALITIES TO DELAY REVALUATIONS OF REAL PROPERTY.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (Effective October 1, 2016) The Commissioner of Revenue Services shall conduct a study concerning the state laws governing the sales and use tax, the personal income tax and the corporation business tax. Not later than January 1, 2017, said commissioner shall report, in accordance with the provisions of section 11-4a of the general statutes, to the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding concerning the results of such study.
Sec. 2. (Effective from passage) Notwithstanding the provisions of the general statutes or any special act, municipal charter or home rule ordinance, the municipalities of Madison, Naugatuck and Stafford, required to effect a revaluation of real property under section 12-62 of the general statutes for the assessment year commencing October 1, 2017, shall not be required to effect a revaluation prior to the assessment year commencing October 1, 2018, provided any decision not to implement a revaluation pursuant to this section shall be approved by the legislative body of such municipality. The rate maker, as defined in section 12-131 of the general statutes, in any municipality that elects, pursuant to this section, not to implement a revaluation, may prepare new rate bills under the provisions of chapter 204 of the general statutes in order to carry out the provisions of this section. Any municipality that elects, pursuant to this section, not to implement a revaluation for the assessment year commencing October 1, 2017, shall implement a revaluation not later than the first day of October five years after the assessment date on which such deferred revaluation becomes effective.
Approved June 7, 2016