Special Session Update

July 28, 2024

I wanted to provide a brief update on the special session the Connecticut General Assembly held this week. While the formal legislative session ended last month, there were certain provisions that could not wait until next year to pass, so the House and Senate met for one day to put a new bill into law.

This was an important day, but that doesn't mean there wasn't time for some sweet moments.
Lovely to spend a few moments with Representative Fazzino and his beautiful little boy, who made his first visit to the chamber of the House, yesterday.

Please read below for a brief outline of what we accomplished in today's special session:

Motor Vehicle Fixes

  • We updated various laws on motor vehicle assessment and property tax billings that, while technical in nature, will save consumers and small businesses alike money on their motor vehicle taxes
  • Also, the Office of Policy and Management is required to notify towns they can take the mill rate down to zero for the motor vehicle tax if they so choose

School Construction

  • This section addresses the Governor's concern about language that was in the School Construction part of the Bond bill which allows companies that oversee local school construction sites to also bid on subcontracts for those projects, reining in corruption you may have seen in recent headlines

South Central Water Authority

  • This is new language that sets up the legal means by which the Water Authority would be allowed to make a bid to acquire Aquarion. Current law which governs their conduct would not allow for the bid. The language in this bill amends sections of the Water Authority Charter

Innovation Banks

  • We changed all references to "uninsured banks" in our banking laws with "innovation banks," which expressly allows these banks to accept nonretail deposits that are eligible for FDIC insurance

Interest on Certain Tax Underpayments

  • Participation in the federal Employee Retention Credit program necessitated some tax filers to file an amended return due to IRS guidance. In our bill passed today we clarified that in that case, if the amended return led to an underpayment, they will not be charged interest

General Insurance Assessment

  • This section clarifies that the methodology the Department of Revenue Services should use to calculate the taxes that insurance companies pay to fund the Department of Insurance is the gross and not the net tax of the companies. This change has no effect on the general fund or appropriations

State Historic Preservation Office

  • This final section modifies the process by which the State Historical Preservation Authority reviews historic properties under the Connecticut Environmental Policy Act

As you can see, this bill has a lot of technical language, but what is important to know is that, among other things, we are saving you money on your motor vehicle taxes, putting a stop to corruption, and helping businesses across our state.

I look forward to providing you more updates throughout the summer!