The proposed bill, sSB1556, establishes the Connecticut Appeals Board for Property Valuation, which will operate under the Office of Policy and Management. This board will handle appeals from individuals who believe they have been wronged by municipal assessors in municipalities that opt to adopt this board instead of a traditional board of assessment appeals. The board will consist of five members appointed by the Governor, with qualifications including experience in property appraisal or assessment and legal expertise. The bill outlines the appeals process, requiring applications to be submitted within two months of the municipal assessor's action, and mandates that the board issue decisions within ninety days of a hearing. It also allows the chairperson to assign certain applications to a single board member for hearings and stipulates that any aggrieved party can appeal the board's decision to the Superior Court.

Additionally, the bill includes provisions for the board to adopt regulations for its operations, including handling frivolous applications and establishing filing fees, which may be waived for good cause. It requires the board to submit an annual report detailing applications and outcomes to relevant legislative committees. The financial implications of the bill estimate an annual cost of approximately $924,700 for the Office of Policy and Management and $376,000 for the Office of the State Comptroller for fringe benefits, primarily for compensating board members. The act will take effect upon certification by the Secretary of the Office of Policy and Management that the board is ready to accept applications, with specific sections related to appeals to the Superior Court becoming effective once the board begins its operations.