Bill > H2818

This bill establishes the Senior Property Tax Deferral Revolving Fund, which will provide financial assistance in the form of loans to cities and towns to cover 100% of deferred real property taxes for eligible senior citizens. The bill outlines the criteria for eligibility, the terms of the tax deferral and recovery agreement, and the process for the department of revenue to send funds to municipalities and record liens on the properties. The bill also authorizes the state treasurer to issue and sell $450 million in bonds to fund the program, with the interest and principal payments coming from the General Fund.