Senate Bill No. 1457 establishes an airport development zone in the town of Plainville, which includes nine specific census blocks as determined by the 2020 federal decennial census. This bill modifies existing law by replacing the singular airport development zone with two zones, one of which is designated for Plainville. The new legal language specifies that taxpayers within this zone will be eligible for partial property tax exemptions for improvements or acquisitions related to qualified manufacturing facilities, as well as for machinery and equipment within the designated area. The effective date for these changes is set for October 1, 2025.

Additionally, the bill allows for the approval of billboards and advertising signs within 660 feet of interstate highways in the airport development zones, subject to regulations and local ordinances. The property tax exemptions available in these zones include a five-year, 80% exemption for qualifying businesses, with the state reimbursing municipalities for half of the lost property tax revenue, depending on funding availability. The bill aims to stimulate economic development in Plainville by incentivizing businesses to invest in the area.