Bill > SB00381

This bill proposes to appropriate funds from the General Fund to the Office of Policy and Management (OPM) for the fiscal year ending June 30, 2026, specifically to reimburse municipalities for revenue losses incurred due to property tax exemptions granted to veterans. The exemption referenced is found in subdivision (83) of section 12-81 of the general statutes, which allows certain veterans to receive a property tax exemption. By providing this reimbursement, the bill aims to "hold municipalities harmless," meaning that local governments will not suffer financial losses as a result of offering these veteran-specific tax benefits. While the exact dollar amount of the appropriation is not specified in the bill text (indicated by a blank line), the intent is to fully compensate municipalities for the reduced property tax revenue caused by providing tax breaks to veterans as a form of recognition and support for their military service.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00381&which_year=2025