Bill Text: CT HB05241 | 2016 | General Assembly | Introduced

Connecticut House Bill 5241 (Prior Session Legislation)

Introduced

Bill Title: An Act Concerning The Priority Of The Benefit Assessments Lien Under The Green Bank's Commercial Sustainable Energy Program.

Sponsorship: Committee Bill

Status: (Introduced - Dead) 2016-02-26 - Public Hearing 03/01 [HB05241 Detail]

Download: Connecticut-2016-HB05241-Introduced.html


General Assembly		*Raised Bill No. 5241*
*February Session, 2016*		LCO No. 1225
		01225_______ET_
Referred to Committee on ENERGY AND TECHNOLOGY
Introduced by:
(ET)

AN ACT CONCERNING THE PRIORITY OF THE BENEFIT ASSESSMENTS LIEN UNDER THE GREEN BANK'S COMMERCIAL SUSTAINABLE ENERGY PROGRAM.

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

Section 1. Subsection (g) of section 16a-40g of the 2016 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage and applicable to financing agreements entered into on and after July 1, 2016):

(g) Benefit assessments levied pursuant to this section and the interest, fees and any penalties thereon shall constitute a lien against the qualifying commercial real property on which they are made until they are paid. Such lien, or if the financing agreement provides that the benefit assessments shall be paid in installments then each installment payment, shall be collected in the same manner as the property taxes of the participating municipality on real property, including, in the event of default or delinquency, with respect to any penalties, fees and remedies. Each such lien may be recorded and released in the manner provided for property tax liens and, subject to the consent of existing mortgage holders, shall take precedence over all other liens or encumbrances except a lien for taxes of the municipality on real property or any other municipal tax lien or assessment, which lien [for taxes] or assessment shall have priority over such benefit assessment lien. To the extent benefit assessments are paid in installments and any such installment is not paid when due, the benefit assessment lien may be foreclosed to the extent of any unpaid installment payments and any penalties, interest and fees related thereto. In the event such benefit assessment lien is foreclosed, such benefit assessment lien shall survive the judgment of foreclosure to the extent of any unpaid installment payments of the benefit assessment secured by such benefit assessment lien that were not the subject of such judgment.


This act shall take effect as follows and shall amend the following sections:
Section 1	from passage and applicable to financing agreements entered into on and after July 1, 2016	16a-40g(g)

Statement of Purpose:

To provide municipal tax liens and assessments priority over benefit assessments liens created under the Green Bank's commercial sustainable energy program.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]