Sec. 32-71a. Treatment of certain electric generating facilities completed after July 1, 1998.
Sec. 32-71a. Treatment of certain electric generating facilities completed after
July 1, 1998. (a) Any electric generating facility, the construction of which is completed
after July 1, 1998, may be treated for purposes of section 32-71 as if it were located in
an enterprise zone and used for commercial or retail purposes. Notwithstanding the
provisions of section 32-71, upon the approval of a municipality's legislative body,
either before or after July 1, 2001, the full amount of either assessments or taxes may
be fixed for the real and personal property of such electric generating facility both during
and after the construction period, provided such assessments or taxes as so fixed represent an approximation of the projected tax liability of such facility based on a reasonable
estimation of its fair market value as determined by the municipality upon the exercise
of its best efforts.
(b) Any new electric generating facility, the construction of which is completed
after July 1, 2003, may be treated for purposes of section 32-71 as if it were located in
an enterprise zone and used for commercial or retail purposes, provided: (1) The owner
of such facility has negotiated a tax agreement with the municipality in which such
facility would be located; and (2) such agreement has been approved by the municipality's legislative body between January 1, 2002, and February 28, 2002. Notwithstanding
the provisions of section 32-71, upon approval of such municipality's legislative body,
either before or after June 14, 2002, up to the full amount of either assessments or taxes
may be fixed for the real and personal property of such electric generating facility both
during and after the construction period, provided such assessments or taxes as so fixed
represent an approximation of the commensurate portion of the projected tax liability
of such facility based on a reasonable estimation of its fair market value as determined
by the municipality upon the exercise of its best efforts.
(c) Any new electric generating facility, the construction of which is completed
after July 1, 2003, may be treated for purposes of section 32-71 as if it were located in
an enterprise zone and used for commercial or retail purposes, provided the municipality
in which such facility is located is under state governance. Notwithstanding the provisions of section 32-71, upon approval of such municipality's legislative body, either
before or after June 14, 2002, up to the full amount of either assessments or taxes may
be fixed for the real and personal property of such electric generating facility both during
and after the construction period, provided such assessments or taxes as so fixed represent an approximation of the commensurate portion of the projected tax liability of such
facility based on a reasonable estimation of its fair market value as determined by the
municipality upon the exercise of its best efforts.
(d) As used in this section, "electric generating facility" means a facility, as defined
in subdivision (3) of subsection (a) of section 16-50i.
(June Sp. Sess. P.A. 01-9, S. 86, 131; P.A. 02-143, S. 3.)
History: June Sp. Sess. P.A. 01-9 effective July 1, 2001; P.A. 02-143 added new Subsecs. (b) and (c) re treatment of
certain electric generating facilities completed after July 1, 2003, and the fixing of assessments on such facilities and
redesignated existing Subsec. (b) as Subsec. (d), effective June 14, 2002.