AN ACT CONCERNING THE ABATEMENT OR REFUND OF INTEREST ON DELINQUENT MUNICIPAL PROPERTY TAXES OR SEWERAGE SYSTEM USE CHARGES OWED BY CERTAIN COMMON INTEREST COMMUNITIES.

This bill allows Connecticut municipalities to waive or refund interest on delinquent property taxes owed by large common interest communities that are in court-ordered receivership. To qualify for this relief, a community must have more than 500 units and be under a Superior Court order placing it in receivership, with the decision to grant the waiver or refund made by a local legislative vote. The provision applies to both unpaid interest on overdue taxes and interest that has already been paid by the community. If enacted, municipalities would lose potential revenue or incur costs depending on whether they choose to abate future interest or refund past payments.