The proposed bill, General Assembly Proposed Bill No. 6787, aims to amend chapter 184b of the general statutes to allow certain common interest communities to qualify for tax credits for the rehabilitation of historic properties. Specifically, the bill stipulates that these communities must contain more than four dwelling units and be located in financially distressed municipalities. Additionally, they must either be individually listed on the National or State Register of Historic Places or situated within a district that is listed, and they must be certified by the Department of Economic and Community Development as contributing to the historic character of that district. Furthermore, more than half of the dwelling units in these communities must be owner-occupied, or the community must be certified by the Federal Housing Administration.

The bill introduces new legal language to facilitate these tax credits while ensuring that the criteria for eligibility are clearly defined. There are no deletions from current law mentioned in the text provided. The overall purpose of the bill is to support the rehabilitation of historic common interest communities, thereby preserving their historical significance and enhancing the character of the neighborhoods in which they are located.