Senate Bill No. 1270
               Senate Bill No. 1270

              PUBLIC ACT NO. 97-109


    Be  it  enacted  by  the  Senate  and House of
Representatives in General Assembly convened:
    Section  1.  (NEW)  Any  municipality  may, by
vote of its legislative body or, in a municipality
where  the  legislative body is a town meeting, by
vote of the board of selectmen, and by vote of its
board  of  finance,  and  upon  application of the
owner of any eligible real property who agrees, in
order to redevelop environmentally impacted sites,
to   conduct   environmental   site    assessment,
demolition,  remediation or other clean-up of such
property enter into  an  agreement  to  abate  the
property  tax  due,  during  the  period  of  such
redevelopment and remediation, as of the  date  of
the  agreement,  but  for  not  longer  than seven
years, provided such property meets  the  criteria
established  by  such  municipality to qualify for
such abatement. Any such tax  abatement  shall  be
contingent    upon   the   continuation   of   the
redevelopment and remediation process with respect
to  the  property  for those purposes specified in
the agreement creating  such  abatement  and  such
abatement shall cease upon the sale or transfer of
the property for  any  other  purpose  unless  the
municipality  shall have consented thereto. Such a
municipality may also establish a recapture in the
event  of  sale  provided such recapture shall not
exceed the original amount of taxes abated and may
not   go   back  further  than  the  date  of  the
    Sec.  2.  This  act shall take effect from its
passage and  shall  be  applicable  to  assessment
years  of  municipalities  commencing  on or after
October 1, 1997.

Approved June 6, 1997