Connecticut General Statutes 12-81hh – Municipal option to abate property taxes on personal property of gas company for gas expansion projects
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Any municipality may, by vote of its legislative body or, in a municipality where the legislative body is a town meeting, by vote of the board of selectmen, abate up to one hundred per cent of the property taxes due for any tax year, for not more than twenty-five tax years, with respect to personal property of any gas company, as defined in section 16-1, in order to facilitate natural gas expansion projects in such municipality. The gas company shall include the amount of such abatement when calculating the hurdle rate pursuant to section 16-19ww for gas expansion projects within such municipality.
Terms Used In Connecticut General Statutes 12-81hh
- company: means any person, partnership, association, company, limited liability company or corporation, except an incorporated municipality. See Connecticut General Statutes 12-1
- legislative body: means : (1) As applied to unconsolidated towns, the town meeting. See Connecticut General Statutes 1-1
- Personal property: All property that is not real property.
- Town: means any town, consolidated town and city or consolidated town and borough. See Connecticut General Statutes 12-62