Sec. 7-528. Grants. Allocation of funds. Formulas.
Sec. 7-528. Grants. Allocation of funds. Formulas. (a) As used in this section:
(1) "Adjusted equalized net grand list per capita" means the adjusted equalized net
grand list per capita determined for each town pursuant to section 10-261;
(2) "Municipality" means any town, city, borough, consolidated town and city or
consolidated town and borough;
(3) "Per capita income" and "population" for each town means that enumerated in
the most recent federal decennial census of population or that enumerated in the most
recent current population report series issued by the United States Department of Commerce, Bureau of the Census available on January first of the fiscal year prior to the
fiscal year in which payment is to be made pursuant to this section, whichever is most
recent; and
(4) "Secretary" means the Secretary of the Office of Policy and Management.
(b) The funds allocated in accordance with this section shall be distributed to each
municipality pro rata on the basis of the following formula: The population of each town
multiplied by the inverse of the adjusted equalized net grand list per capita of such town
multiplied by the inverse of the per capita income of such town shall be the numerator
of the fraction, and the resulting products shall be added together and the sum shall be
the denominator of the fraction. Any city or borough not consolidated with the town in
which it is located and any town containing such a city or borough shall share the allocation to such town on the basis of the following ratio: The total taxes levied in the previous
fiscal year by such town, city or borough shall be the numerator of the fraction. The
total taxes levied by the town and all cities or boroughs located within such town shall
be added together, and the sum shall be the denominator of the fraction. Any such city
or borough may, by vote of its legislative body, direct the Secretary of the Office of
Policy and Management to reallocate all or a portion of the share of such city or borough
to the town in which it is located.
(P.A. 87-584, S. 3, 18; P.A. 96-237, S. 1, 3; P.A. 97-274, S. 3, 7.)
History: (Revisor's note: In 1997 the Revisors editorially inserted the word "Trust" in the phrase "Local Property Tax
Relief Trust Fund" in Subsec. (b)(2) in conformance with Sec. 7-526); P.A. 96-237 amended Subsec. (b) to change date
of last payment from trust fund from March 31, 1997, to March 31, 1991, made technical change and added provision re
transfer of up to $100,000 from trust fund to General Fund for the Office of Policy and Management for use in funding
various studies required of said office pursuant to legislative enactments of February, 1996, regular session of General
Assembly, effective July 1, 1996; P.A. 97-274 deleted former Subsec. (b) re Local Property Tax Relief Trust Fund and
redesignated former Subsec. (c) as Subsec. (b), effective June 26, 1997.