Bill Text: CT SB00116 | 2014 | General Assembly | Comm Sub

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Bill Title: An Act Concerning Personal Property Tax Relief For Businesses Affected By Major Construction Activities.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2014-03-17 - Favorable Change of Reference, House to Committee on Finance, Revenue and Bonding [SB00116 Detail]

Download: Connecticut-2014-SB00116-Comm_Sub.html

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General Assembly		Raised Bill No. 116
February Session, 2014		LCO No. 362
		*_____SB00116PD_FIN031314____*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
(PD)

AN ACT CONCERNING PERSONAL PROPERTY TAX RELIEF FOR BUSINESSES AFFECTED BY MAJOR CONSTRUCTION ACTIVITIES.

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

Section 1. (NEW) (Effective October 1, 2014, and applicable to assessment years commencing on or after said date) Any municipality may, upon approval by its legislative body or, in any town in which the legislative body is a town meeting, by the board of selectmen, abate the property taxes due for any tax year with respect to the personal property of any business affected by a major construction activity during the calendar year immediately preceding the beginning of the tax year for which such taxes are due. Application for such abatement shall be made not later than thirty days preceding the tax due date for such tax year, except that, if the amount of such taxes has not been determined on such date, such application shall be made not later than ten days following determination of the amount of such taxes. For purposes of this section, "major construction activity" means any sewer project, water supply system improvement, construction or repair project or road improvement, construction or repair project that has interrupted the normal operation of the business for six consecutive months or longer.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2014, and applicable to assessment years commencing on or after said date	New section

PD

Joint Favorable C/R

FIN