Bill Text: CT SB01133 | 2011 | General Assembly | Introduced

Connecticut Senate Bill 1133 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: An Act Concerning A Municipal Option To Abate Personal Property Taxes On Software Production Facilities.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2011-03-25 - Favorable Change of Reference, House to Committee on Finance, Revenue and Bonding [SB01133 Detail]

Download: Connecticut-2011-SB01133-Introduced.html


General Assembly		*Raised Bill No. 1133*
*January Session, 2011*		LCO No. 4146
		04146_______CE_
Referred to Committee on Commerce
Introduced by:
(CE)

AN ACT CONCERNING A MUNICIPAL OPTION TO ABATE PERSONAL PROPERTY TAXES ON SOFTWARE PRODUCTION FACILITIES.

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

Section 1. Section 12-65h of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2011, and applicable to assessment years commencing on or after October 1, 2011):

Any municipality may, by affirmative vote of its legislative body, enter into a written agreement with any party owning or proposing to acquire an interest in real property in such municipality, or with any party owning or proposing to acquire an interest in air space in such municipality, or with any party who is the lessee of, or who proposes to be the lessee of, air space in such municipality in such a manner that the air space leased or proposed to be leased shall be assessed to the lessee pursuant to section 12-64, upon which is located or proposed to be located a manufacturing facility, as defined in subdivision (72) of section 12-81, or a software production facility fixing the assessment of the personal property located in the facility which is the subject of the agreement, (1) for a period of not more than seven years, provided the increase in the assessed value of such personal property in such facility is not less than three million dollars, (2) for a period of not more than two years, provided the increase in the assessed value of such personal property in such facility is not less than five hundred thousand dollars, or (3) to the extent of not more than fifty per cent of such increased assessment, for a period of not more than three years, provided the increase in the assessed value of such personal property in such facility is not less than twenty-five thousand dollars.


This act shall take effect as follows and shall amend the following sections:
Section 1	July 1, 2011, and applicable to assessment years commencing on or after October 1, 2011	12-65h

Statement of Purpose:

To allow municipalities to fix their assessments of personal property belonging to software producers.

[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.]