AN ACT CONCERNING THE REBASING OF THE EDUCATION COST SHARING GRANT FORMULA FOR PURPOSES OF PROPERTY TAX RELIEF.

Plain English Breakdown

The official text states the bill was referred to a committee but also notes it passed both chambers; however, no effective date is provided in the source material.

HB05076: Changing School Funding to Lower Property Taxes

This bill changes how school funding is calculated by raising the base grant amount over five years and adjusting for inflation, allowing towns to lower property taxes if they receive more state money.

What This Bill Does

• Increases the foundation amount in the education cost-sharing grant formula from $11,525 to $18,681 per student over a five-year period.
• Adds a rule that adjusts this funding amount each year based on inflation.
• Allows municipalities to lower their property tax rate so that the reduction in revenue equals the increase in equalization aid grant funding they receive.

Who It Names or Affects

• Municipalities receiving education cost-sharing grants
• Homeowners who pay local property taxes

Terms To Know

Rebasing

Changing the starting number or base amount used in a funding formula.

Foundation Amount

The dollar value assigned to each student for calculating state school grants, which this bill increases from $11,525 to $18,681 over five years.

Inflation Adjustment

Increasing the money amount in the formula to match rising prices over time.

Limits and Unknowns

• The bill does not specify an effective date for when these changes will begin.
• It is unclear how much property taxes might drop in each town because it depends on local tax rates and the specific amount of increased grant funding received.

Official Summary Text

To reduce local property taxes by rebasing the education cost-sharing grant formula by increasing the foundation amount and adjusting for inflation.

Current Bill Text

LCO No. 659 1 of 1

General Assembly Proposed Bill No. 5076
February Session, 2026 LCO No. 659

Referred to Committee on EDUCATION

Introduced by:
REP. BOLINSKY, 106th Dist.

AN ACT CONCERNING THE REBASING OF THE EDUCATION COST
SHARING GRANT FORMULA FOR PURPOSES OF PROPERTY TAX
RELIEF.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That (1) subdivision (9) of section 10 -262f of the general statutes be 1
amended to redefine "foundation" by (A) phasing in an increase of the 2
amount of the foundation from eleven thousand five hundred twenty -3
five dollars to eighteen thousand six hundred eighty-one dollars over a 4
five-year period, and (B) adding a provision that adjusts such amount 5
in accordance with inflation, and (2) the general statutes be amended to 6
allow a municipality to lower its property tax rate so that the reduction 7
in property tax revenue is equal to the amount of the increase in 8
equalization aid grant funding such municipality receives. 9
Statement of Purpose:
To reduce local property taxes by rebasing the education cost -sharing
grant formula by increasing the foundation amount and adjusting for
inflation.