Connecticut 2023 Regular Session Status: Passed Senate Bipartisan · 3 D · 1 R cosponsors

SB 900 — AN ACT ESTABLISHING A REVOLVING LOAN ACCOUNT TO ASSIST ELDERLY HOMEOWNERS.

Last action — HOUSE CALENDAR NUMBER 581

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

60 added · 191 removed

60 line(s) added, 191 removed.

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Senate General Assembly File No.
General Assembly Raised Bill No.
63 January Session, 2023 Senate Bill No.
900 January Session, 2023 LCO No.
900 Senate, March 14, 2023 The Committee on Aging reported through SEN.
3029 Referred to Committee on AGING Introduced by:
HOCHADEL of the 13th Dist., Chairperson of the Committee on the part of the Senate, that the bill ought to pass.
(AGE) AN ACT ESTABLISHING A REVOLVING LOAN ACCOUNT TO ASSIST ELDERLY HOMEOWNERS.
AN ACT ESTABLISHING A REVOLVING LOAN ACCOUNT TO ASSIST ELDERLY HOMEOWNERS.
(NEW) (Effective October 1, 2023) (a) For purposes of this section, "elderly homeowner" means any owner of real property liable for property taxes under chapter 203 of the general statutes, including any owner of real property held in trust for such owner, provided such owner or such owner and such owner's spouse are the grantor and beneficiary of such trust, who (1) is sixty-five years of age or older on the date of application for a loan under this section, (2) has resided in the municipality levying such property taxes for a consecutive period of not less than ten years before the date of such application, (3) has occupied such property as his or her primary residence for a period of more than one hundred eighty-three days in at least eight of the last ten years before the date of such application, and (4) has qualifying income in the year immediately preceding thedate ofsuch application that does not exceed the applicable maximum qualifying income, adjusted SB900 / File No.
(NEW) (Effective October 1, 2023) (a) For purposes of this section, "elderly homeowner" means any owner of real property liable for property taxes under chapter 203 of the general statutes, including any owner of real property held in trust for such owner, provided such owner or such owner and such owner's spouse are the grantor and beneficiary of such trust, who (1) is sixty-five years of age or older on the date of application for a loan under this section, (2) has resided in the municipality levying such property taxes for a consecutive period of not less than ten years before the date of such application, (3) has occupied such property as his or her primary residence for a period of more than one hundred eighty-three days in at least eight of the last ten years before the date of such application, and (4) has qualifying income in the year immediately preceding thedate ofsuch application that does not exceed the applicable maximum qualifying income, adjusted annually, for a tax reduction under section 12-170aa of the general LCO 3029 \\PRDFS1\SCOUSERS\FORZANOF\WS\2023SB-00900-R01 of 3 SB.docx Bill No.
63 1 SB900 File No.
900 statutes.
63 annually, for a tax reduction under section 12-170aa of the general statutes.
(b) There is established a revolving loan account which shall be a separate, nonlapsing account within the General Fund.
(b) There is established a revolving loan account which shall be a separate nonlapsing account withintheGeneralFund.The account shall be used to provide loans to elderly homeowners qualified pursuant to subsections (a) and (c) of this section who are delinquent on real property tax payments and shall contain any moneys required by law to be deposited in the account, including, but not limited to, payments of principal and interest on loans made from the account.
The account shall be used to provide loans to elderly homeowners qualified pursuant to subsections (a) and (c) of this section who are delinquent on real property tax payments and shall contain any moneys required by law to be deposited in the account, including, but not limited to, payments of principal and interest on loans made from the account.
Payments of principal or interest on a loan made pursuant to this section shall be paid to the State Treasurer for deposit in the account.
Payments of principal or interest on a loan made pursuant to thissectionshallbepaidtotheStateTreasurerfordepositintheaccount.
In addition to requiring that an SB900 / File No.
In addition to requiring that an elderly homeowner's qualifying income not exceed the applicable LCO 3029 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2023SB-00900-R02- 2 of 3 SB.docx } Bill No.
63 2 SB900 File No.
900 maximum qualifying income for a tax reduction under section 12-170aa of the general statutes, the secretary may (i) impose asset limits as a condition of eligibility for loans provided pursuant to this section, (ii) prescribe requirements for an elderly homeowner to prove the loan was used for the intended purpose, and (iii) impose penalties against an elderly homeowner who does not use theloan for the intended purpose.
63 elderly homeowner's qualifying income not exceed the applicable maximum qualifying income for a tax reduction under section 12-170aa of the general statutes, the secretary may (i) impose asset limits as a condition of eligibility for loans provided pursuant to this section, (ii) prescribe requirements for an elderly homeowner to prove the loan was used for the intended purpose, and (iii) impose penalties against an elderly homeowner who does not use theloan for the intended purpose.
Section 1 October 1, 2023 New section AGE Joint Favorable SB900 / File No.
Section 1 October 1, 2023 New section AGE Joint Favorable APP Joint Favorable LCO 3029 {\\PRDFS1\SCOUSERS\FORZANOF\WS\2023SB-00900-R02- 3 of 3 SB.docx }
63 3 SB900 File No.
63 The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose.
In general, fiscal impacts are based upon a variety of informational sources, including the analyst’s professional knowledge.
Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.
OFA Fiscal Note State Impact:
Agency Affected Fund-Effect FY 24 $ FY 25 $ Policy & Mgmt., Off.
Elderly Greater Greater Revolving Loan than than Fund - Cost 238,468 308,110 State Comptroller - Fringe GF - Cost 98,528 131,370 Benefits Note:
GF=General Fund Municipal Impact:
Municipalities Effect FY 24 $ FY 25 $ Various Municipalities Revenue Potential Potential Gain Explanation The bill results in a total cost of $337,000 in FY 24 and $439,000 in FY 25, and annually thereafter, to administer the Elderly Homeowner Property Tax Revolving Loan program established by the bill, and a potentially significant additional annual cost associated with providing the loans.
The bill also results in a potential revenue gain to various municipalities beginning in FY 24.
The anticipated costs include $238,468 in FY 24 and $308,110 in FY 25 to the Office of Policy and Management for an additional four staff members to run the program and $98,528 in FY 24 and $131,370 in FY 25 The fringe benefit costs for most state employees are budgeted centrally in accounts administered by the Comptroller.
The estimated active employee fringe benefit cost associated with most personnel changes is 42.82% of payroll in FY 24.
SB900 / File No.
63 4 SB900 File No.
63 to the Office of the State Comptroller for associated fringe benefits.
This cost includes one Office Assistant at an annual salary of $50,651, one Paralegal Specialist at an annual salary of $77,677, and two Staff Attorney 1 positions at an annual salary of $89,234.
The estimate also includes an annual cost of $1,314 for training and supplies and a one- time cost in FY 24 of $7,057 for computers.
The cost of providing the loans would vary based on the number of people eligible who seek out the program, and on the size of the loans they take out.
This cost may be significant.
The bill allows investment earnings, including principal and interest on the loans, to be used to fund loans under the program, which will be administered using a separate non-lapsing account.
The bill provides credited investment earnings to the account but does not specify a funding source.
To the extent that the Elderly Homeowner Property Tax Revolving Loan Fund provides homeowners who owe unpaid taxes with a way of paying those taxes, there is a revenue gain to municipalities.
The Out Years The annualized ongoing fiscal impact identified above would continue into the future subject to the number of applicants and the value of the loans they receive.
SB900 / File No.
63 5 SB900 File No.
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63 OLR Bill Analysis SB 900 AN ACT ESTABLISHING A REVOLVING LOAN ACCOUNT TO ASSIST ELDERLY HOMEOWNERS.
SUMMARY This bill establishes a revolving loan account that the Office of Policy and Management (OPM) secretary may use to make loans to income- eligible, elderly homeowners (age 65 or older) who failed to pay real property taxes for at least two assessment years.
The bill (1) outlines conditions governing the loans and eligibility criteria and (2) allows OPM to adopt regulations to implement its provisions.
Under the bill, the loans must be made within available appropriations.
EFFECTIVE DATE:
October 1, 2023 LOAN ELIGIBILITY CRITERIA ThebillallowstheOPMsecretarytoprovideloansfromtherevolving loan account at the prevailing interest rate determined by the secretary.
The secretary may award the loans to elderly homeowners who meet the following criteria:
1.
are at least age 65 when they apply for a loan;
2.
ownapropertysubjecttopropertytaxes,includingpropertyheld in trust where the owner, or the owner and his or her spouse, is the trust grantor and beneficiary;
3.
have lived in the municipality where the property is located for at least 10 consecutive years before applying;
SB900 / File No.
63 6 SB900 File No.
63 4.
have maintained their primary residence (at least 183 days per year) at the property for at least eight of the last 10 years before applying;
5.
in the year before the application date, meet the state’s Circuit Breaker Program income limits (currently $40,300 for an unmarried person and $49,100 for a married couple);
and 6.
failed to pay property tax on the property, which is otherwise unencumbered, for at least the two assessment years before applying.
Under the bill, the elderly homeowner’s qualifying income excludes his or her spouse’s Social Security income if the spouse is a resident of a health care or nursing home facility receiving Title XIX Medicaid payments.
In addition, the bill allows the OPM secretary to set asset limits as a condition of eligibility.
LOAN CONDITIONS AND REQUIREMENTS Under the bill, the OPM secretary must prescribe the program’s application form.
Elderly homeowners who receive the loan must use it to pay the delinquent taxes, interest, and fees on their property, and the principalloanamount must not exceed theamount leviedagainst it.The secretary may (1) set requirements to prove that an elderly homeowner used the loan for its intended purposes and (2) impose penalties for failing to do so.
If the state provides a loan, the OPM secretary has a lien on the propertyfortheloanamount,plusinterestattheprevailinginterestrate.
The lien has priority over all other liens on the property, except a municipal property tax lien.
ACCOUNT OPERATION Under the bill, the revolving loan account is a separate, nonlapsing General Fund account administered by OPM.
It must contain any money required by law to be deposited into it.
Investment earnings credited to the account become part of the account’s assets.
Principal SB900 / File No.
63 7 SB900 File No.
63 and interest payments on loans under the bill must be remitted to the state treasurer for deposit into the account.
The bill requires the OPM secretary to use the account to (1) make loans as specified above and (2) pay reasonable and necessary expenses incurred for loan administration.
ELIGIBILITY FOR OTHER BENEFIT PROGRAMS The bill specifies that thefinancialassistance providedunder theloan program does not disqualify elderly homeowners from any other benefits for which they may qualify.
COMMITTEE ACTION Aging Committee Joint Favorable Yea 15 Nay 0 (03/01/2023) SB900 / File No.
63 8
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Action History

  1. HOUSE CALENDAR NUMBER 581

  2. FAV. RPT., TABLED FOR HOUSE CALENDAR

  3. ON CONSENT CALENDAR

  4. SENATE PASSED

  5. FAV. RPT., TAB. FOR CAL., SEN.

  6. NO NEW FILE BY COMM. ON Appropriations

  7. RPTD. OUT OF LCO

  8. FILED WITH LCO

  9. Joint Favorable

  10. REF. BY SEN. TO COMM. ON Appropriations

  11. FILE NO. 63

  12. SENATE CALENDAR NUMBER 66

  13. FAV. RPT., TAB. FOR CAL., SEN.

  14. RPTD. OUT OF LCO

  15. REFERRED TO Office of Legislative Research AND Office of Fiscal Analysis 03/13/23

  16. FILED WITH LCO

  17. Joint Favorable

  18. PUBLIC HEARING 0202

  19. REF. TO JOINT COMM. ON Aging

Sponsors

Sponsorship breakdown

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5 sponsors · 0 co-sponsors · 182 not signed on

Sponsors (5)

Co-sponsors (0)

None.

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Frequently asked questions

Who sponsors SB 900?
SB 900 is sponsored by Heather S. Somers (Republican), Jane M. Garibay (Democratic), Saud Anwar (Democratic), Jan Hochadel (Democratic), and Kevin C. Kelly.
What is the current status of SB 900?
This bill died with 2023 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 900?
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