Bill Text: CT SB00414 | 2016 | General Assembly | Comm Sub
Bill Title: An Act Concerning The Tax On College Property.
Spectrum: Committee Bill
Status: (Introduced - Dead) 2016-04-21 - File Number 690 [SB00414 Detail]
Download: Connecticut-2016-SB00414-Comm_Sub.html
General Assembly |
Substitute Bill No. 414 | |
February Session, 2016 |
*_____SB00414FIN___040816____* |
AN ACT CONCERNING THE TAX ON COLLEGE PROPERTY.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subdivision (8) of section 12-81 of the 2016 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2016, and applicable to assessment years commencing on or after October 1, 2016):
(8) (A) The funds and estate which have been or may be granted, provided by the state, or given by any person or persons to the Trustees of the Berkeley Divinity School, the board of trustees of Connecticut College for Women, the Hartford Seminary Foundation, Sheffield Scientific School, Trinity College, Wesleyan University or The President and Fellows of Yale College in New Haven, and by them respectively invested and held for the use of such institutions, with the income thereof. [; provided none of said corporations shall hold in this state]
(B) Such exemption shall not apply to any (i) real estate [free from taxation] affording an annual income of more than six thousand dollars; or (ii) real estate where such institution holds real estate consisting of land, buildings and equipment valuing more than two billion dollars in the aggregate and the activities on such real estate afford the institution an annual income of more than six thousand dollars. Such exemption shall not apply to any real estate which said Trustees of the Berkeley Divinity School own, control or hold in trust, and which is situated in the city of Middletown. For the purposes of this subdivision, "activities" means (I) rents or other payments for the use of all or any part of real estate exempt from taxation pursuant to subparagraph (A) of this subdivision or any fixtures or equipment permanently installed thereon, received or due from any for-profit entity, but not including individuals for personal use; (II) fees collected for admission or use of any sports or entertainment facility located on such real estate, except for fees collected for admission or use from faculty, employees or enrolled students, or events in which substantially all of the athletes or performers are faculty or enrolled students; (III) fees, charges or royalties for any goods designed, produced, manufactured or generated on all or any part of such real estate, provided such goods are for sale to the public and to for-profit entities; and (IV) fees or charges for any services rendered on, or from, all or any part, of such real estate to the public or any for-profit entity; and "for-profit entity" means a corporation, partnership, joint venture, sole proprietorship or any other business entity.
(C) No other provision of this section concerning exemption of property used for educational purposes shall be construed to affect any provision of this subdivision;
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
October 1, 2016, and applicable to assessment years commencing on or after October 1, 2016 |
12-81(8) |
Statement of Legislative Commissioners:
In Section 1(B), the existing word "exemption" was restored to avoid repetition, "subparagraph (A) of this subdivision" was substituted for "subsection (a) of this section" for accuracy, and "this subdivision" was substituted for "this section" for accuracy.
FIN |
Joint Favorable Subst. -LCO |