Substitute Senate Bill No. 605

Public Act No. 00-194

An Act Concerning Assessment Practices For Construction In Enterprise Zones And Designation Of Enterprise Corridor Zones.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Subsection (a) of section 32-71 of the general statutes is repealed and the following is substituted in lieu thereof:

(a) Any municipality which has designated any area as an enterprise zone pursuant to section 32-70 shall provide, by ordinance, for the fixing of assessments on all real property in such zone which is improved during the period when such area is designated as an enterprise zone. Such fixed assessment shall be for a period of seven years from the time of such improvement and shall defer any increase in assessment attributable to such improvements according to the following schedule:

   

Percentage of Increase

 

    Year

Deferred

 

    First

100

 

    Second

100

 

    Third

50

 

    Fourth

40

 

    Fifth

30

 

    Sixth

20

 

    Seventh

10

Notwithstanding the provisions of this subsection, a municipality may negotiate the fixing of assessments on the portion of improvements, by a taxpayer, which exceed a value of eighty million dollars to real property which is to be used for commercial or retail purposes. Notwithstanding the provisions of chapter 203, no such improvements shall be subject to property taxation while such improvements are being constructed.

Sec. 2. Subsection (b) of section 32-80 of the general statutes is repealed and the following is substituted in lieu thereof:

(b) The legislative bodies of three or more contiguous municipalities, each of which is a public investment community and has a population of not more than [thirty-five] sixty thousand, and at least fifty per cent of which municipalities are located along the same interstate highway, limited access state highway or intersecting interstate or limited access state highways, may, with the approval of the commissioner, designate industrial districts in such municipalities as an enterprise corridor zone.

Sec. 3. This act shall take effect from its passage.

Approved June 1, 2000