Bill
Bill > SB01091
CT SB01091
CT SB01091An Act Concerning A Study Of Projected Financial Impacts Of Certain Modifications To The Basic Property Tax Exemption For Veterans And Certain Other Military-related Individuals.
summary
Introduced
01/22/2025
01/22/2025
In Committee
03/27/2025
03/27/2025
Crossed Over
Passed
Dead
06/04/2025
06/04/2025
Introduced Session
2025 General Assembly
Bill Summary
To (1) provide an increase in the exemption amount for property belonging to veterans and certain other military-related individuals, and (2) provide that any such veteran or other military-related individual with property in an amount equal to or greater than seven hundred fifty thousand dollars is ineligible for such exemption.
AI Summary
This bill directs the Secretary of the Office of Policy and Management (OPM) to conduct a comprehensive study on potential financial impacts of modifying property tax exemptions for veterans and military-related individuals. Specifically, the study will examine two key aspects: first, increasing the current property tax exemption amount for veterans and military-related individuals, and second, establishing a property value limit that would render individuals with property valued at $750,000 or more ineligible for the exemption. The secretary is required to complete this study and submit a detailed report to multiple legislative committees by February 1, 2026. The report must include the study's findings and any recommended legislative actions. The bill is set to take effect on July 1, 2025, and aims to provide lawmakers with crucial information about the potential financial consequences of modifying existing veterans' property tax exemption policies, which could help inform future legislative decisions about supporting military veterans through tax relief programs.
Committee Categories
Military Affairs and Security
Sponsors (3)
Other Sponsors (1)
Veterans' and Military Affairs Committee (J)
Last Action
File Number 279 (on 03/27/2025)
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB01091&which_year=2025 |
| Bill Analysis For File Copy 279 | https://www.cga.ct.gov/2025/BA/PDF/2025SB-01091-R000279-BA.PDF |
| Fiscal Note For File Copy 279 | https://www.cga.ct.gov/2025/FN/PDF/2025SB-01091-R000279-FN.PDF |
| BillText | https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-01091-R02-SB.PDF |
| BillText | https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-01091-R01-SB.PDF |
| BillText | https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-01091-R00-SB.PDF |
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