Bill
Bill > SB01201
summary
Introduced
01/30/2025
01/30/2025
In Committee
01/30/2025
01/30/2025
Crossed Over
Passed
Dead
06/04/2025
06/04/2025
Introduced Session
2025 General Assembly
Bill Summary
To disallow, for purposes of calculating operating loss under section 12-217 of the general statutes, corporations from claiming any deductions concerning commercial real property that has been vacant for more than three years.
AI Summary
This bill proposes to amend Chapter 208 of the general statutes to restrict corporations' ability to claim tax deductions for commercial real estate properties that have been vacant for more than three years when calculating their operating loss under section 12-217. By implementing this provision, the legislation aims to discourage long-term property vacancy and potentially incentivize property owners to either develop, sell, or actively use commercial real estate spaces. The bill would effectively prevent corporations from using tax deductions as a financial strategy for properties that remain unoccupied for an extended period, which could help promote more active use of commercial real estate and potentially generate economic benefits for the community by encouraging property utilization.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding (on 01/30/2025)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB01201&which_year=2025 |
| BillText | https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-01201-R00-SB.PDF |
Loading...