AN ACT CONCERNING FUNDING FOR THE CITY OF NEW LONDON FOR LOSS OF TAXES ON PRIVATE TAX-EXEMPT PROPERTY.

Plain English Breakdown

The bill title and digest refer generally to 'private tax-exempt property,' while the specific text links this only to the Coast Guard Academy; it is unclear if other private properties are covered.

Funding for New London Due to Lost Taxes on Private Tax-Exempt Property

This bill requires $4 million in annual payments to the city of New London as reimbursement for lost property taxes related to private tax-exempt land connected to the United States Coast Guard Academy.

What This Bill Does

• Amends section 4-66p(f)(4) of the general statutes.
• Requires an annual payment of four million dollars to the city of New London.
• Provides reimbursement for loss of taxes on private tax-exempt property with respect to the United States Coast Guard Academy.

Who It Names or Affects

• The City of New London
• State agencies responsible for appropriations and payments

Terms To Know

Private tax-exempt property

Property owned by private parties that is exempt from taxes, specifically in relation to the United States Coast Guard Academy.

Reimbursement

Money paid back to cover a loss of revenue.

Limits and Unknowns

• The official text does not state when this annual payment will begin.
• The source does not explain how the $4 million amount was calculated or what specific properties are included.
• It is unclear if other cities with similar tax losses receive funding under this rule.

Official Summary Text

To require four million dollars be paid to the city of New London to better reflect the lost property tax revenue from the United States Coast Guard Academy.

Current Bill Text

LCO No. 964 1 of 1

General Assembly Proposed Bill No. 5174
February Session, 2026 LCO No. 964

Referred to Committee on APPROPRIATIONS

Introduced by:
REP. GAIEWSKI, 40th Dist.
SEN. MARX, 20th Dist.
REP. NOLAN, 39th Dist.

AN ACT CONCERNING FUNDING FOR THE CITY OF NEW LONDON
FOR LOSS OF TAXES ON PRIVATE TAX-EXEMPT PROPERTY.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That subdivision (4) of subsection (f) of section 4-66p of the general 1
statutes be amended to provide that four million dollars be paid for 2
reimbursement to the city of New London with respect to the United 3
States Coast Guard Academy annually for loss of taxes on private tax -4
exempt property. 5
Statement of Purpose:
To require four million dollars be paid to the city of New London to
better reflect the lost property tax revenue from the United States Coast
Guard Academy.