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

Plain English Breakdown

The effective date is not listed in the provided source material.

HB05077: Changing School Funding to Lower Property Taxes

This bill changes how school funding is calculated by raising a base number and adding inflation adjustments, which allows towns to lower property taxes.

What This Bill Does

• Increases the foundation amount from $11,525 to $18,681 over five years.
• Adds a rule to adjust this funding amount based on inflation each year.
• Allows municipalities to lower their property tax rate if they receive more equalization aid grant funding.

Who It Names or Affects

• Municipalities
• Property taxpayers

Terms To Know

Foundation amount

The base dollar value used in the formula to calculate education funding.

Rebasing

Changing the starting number or base of a calculation, such as raising the foundation amount for school grants.

Limits and Unknowns

• The official text does not state when this law will officially take effect.
• The text mentions adjusting for inflation but does not explain how that measurement is calculated.

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. 595 1 of 1

General Assembly Proposed Bill No. 5077
February Session, 2026 LCO No. 595

Referred to Committee on EDUCATION

Introduced by:
REP. YACCARINO, 87th 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.