Sec. 12-125. Abatement of taxes of corporations.
Sec. 12-125. Abatement of taxes of corporations. If any corporation carrying on
business in this state is poor and unable to pay real or personal property taxes or both
levied against it by any municipality, if such corporation has applied for a working-capital loan from one or more agencies of the United States and if the amount of taxes
due to such municipality constitutes a bar or a handicap to the granting of such loan,
application may be made to the selectmen of a town not consolidated with a city or
borough, to the common council or mayor and board of aldermen if a city, to the warden
and burgesses if a borough and to the governing board of any other municipality, for
the abatement in whole or in part of such real estate and personal property taxes. Such
application shall be in writing and shall contain a recital of the facts and the reason why
the corporation believes that it is necessary for the municipality to abate its taxes in
whole or in part. Such municipal authority, after an examination of the facts and after
hearing, shall have power to abate in whole or in part real and personal property taxes
levied by it against such corporation, provided the Secretary of the Office of Policy and
Management, after having obtained the written consent of the Attorney General, shall
approve. The name of each such corporation receiving such abatement and the amount
of taxes so abated shall be presented to the next regular meeting of such municipality.
If any corporation receiving abatement as provided in this section withdraws its application for the loan because of which the abatement was granted or if the corporation for
any reason fails to receive the loan for which application was made and in accordance
with which the abatement was granted, such abatement shall be rescinded and have no
effect.
(1949 Rev., S. 1806; P.A. 77-614, S. 139, 610; P.A. 79-610, S. 3, 47.)
History: P.A. 77-614 substituted commissioner of revenue services for tax commissioner, effective January 1, 1979;
P.A. 79-610 substituted secretary of the office of policy and management for commissioner of revenue services, effective
July 1, 1980.