Housing Committee
JOINT FAVORABLE REPORT
Bill No.: SB-202
AN ACT CONCERNING PROPERTY TAX ABATEMENT FOR CERTAIN FIRST-
Title: TIME HOME BUYERS.
Vote Date: 3/10/2022
Vote Action: Joint Favorable Substitute
PH Date: 3/1/2022
File No.:
Disclaimer: The following JOINT FAVORABLE Report is prepared for the benefit of the
members of the General Assembly, solely for purposes of information, summarization and
explanation and does not represent the intent of the General Assembly or either chamber
thereof for any purpose.
SPONSORS OF BILL:
Rep. Joseph H. Zullo, 99th Dist.
Sen. Saud Anwar, 3rd Dist.
Rep. Tom Delnicki, 14th Dist.
Rep. Michael A. Winkler, 56th Dist.
Rep. Gary A. Turco, 27th Dist.
Sen. Paul Cicarella, 34th Dist.
SUBSTITUTE LANGUAGE: LCO: 2980 The effective date was updated to October 1,
2022.
REASONS FOR BILL:
Although CHFA loans offer lower rates and costs than many other loan products, lenders
often don't promote them because they cannot make as much commission off them as they
can other loan products. As a result, homeowners who are most often first-time homebuyers,
end up paying more in interest. This credit is meant to incentivize people seeking mortgages
to ask for CHFA loans. A similar bill was introduced in the 2021 session in HB 5679.
RESPONSE FROM ADMINISTRATION/AGENCY:
None Expressed
NATURE AND SOURCES OF SUPPORT:
Samuel S. Gold, Executive Director of RiverCOG Supports this proposal, as it gives it lowers
the threshold to homeownership. Samuel suggested that the bill be amended to allow
mortgages subsidized by the USDA, make the tax abatement immediate, and allow towns the
option of providing a max abatement of $2,500
The Connecticut Conference of Municipalities testified that while they normally oppose
legislation like SB 202, they support the goal of creating more affordable housing and see this
legislation as an innovative way to achieve this goal.
Francis Pickering, Executive Director-WestCOG did not take a stance on opposing or
supporting this legislation. WestCOG suggested that the bill be amended to allow mortgages
subsidized by the USDA and to allow the first year of the tax abatement to be applied to
property taxes due at closing.
Betsy Gara, Executive Director of Connecticut Council of Small Towns expressed some
concerns that these tax abatements would shift the tax burden onto other residents, but
overall supported the bill because it "may be an effective tool in assisting
municipalities in meeting their affordable housing goals."
COST did suggest the bill be amended to incorporate a mechanism to assist individuals in
saving money for a down payment to purchase their first homes.
NATURE AND SOURCES OF OPPOSITION:
None Expressed
Reported by: William Cromwell Date: 3/17/2022
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