AN ACT CONCERNING REIMBURSEMENTS TO MUNICIPALITIES FOR REVENUE LOSS ASSOCIATED WITH A VETERANS PROPERTY TAX CREDIT.

Plain English Breakdown

The official source material does not provide specific details on the amount of reimbursement or the start and end dates of this law.

Helping Towns Pay for Veterans' Property Tax Break

This law requires the state to pay half of what towns lose in revenue when they give veterans a property tax break.

What This Bill Does

• The state must reimburse municipalities fifty percent of the revenue loss caused by providing a property tax exemption to veterans.

Who It Names or Affects

• Municipalities (towns and cities) will receive money from the state for revenue lost due to veterans' property tax exemptions.
• Veterans who qualify for property tax exemptions may indirectly benefit as their local government is financially supported by these reimbursements.

Terms To Know

Reimbursement

Money given back to a town by the state when it loses revenue due to veterans' property tax breaks.

Revenue loss

The amount of money that towns lose because some people, like veterans, pay less in taxes than they would normally.

Limits and Unknowns

• It is not clear how much money each town will receive from the state.
• This law does not specify when it starts or ends.

Official Summary Text

To require the state to partially reimburse municipalities for the cost associated with administering a veterans property tax credit.

Current Bill Text

LCO No. 267 1 of 1

General Assembly Proposed Bill No. 5068
February Session, 2026 LCO No. 267

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
REP. BUCKBEE, 67th Dist.

AN ACT CONCERNING REIMBURSEMENTS TO MUNICIPALITIES
FOR REVENUE LOSS ASSOCIATED WITH A VETERANS PROPERTY
TAX CREDIT.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That the general statutes be amended to require the state to reimburse 1
each municipality fifty per cent of the revenue loss caused by a property 2
tax exemption for veterans pursuant to subdivision (83) of section 12-81 3
of the general statutes. 4
Statement of Purpose:
To require the state to partially reimburse municipalities for the cost
associated with administering a veterans property tax credit.