The proposed legislation, General Assembly Substitute Bill No. 359, authorizes the city of Hartford to defer its scheduled property revaluation, originally set for the assessment year beginning October 1, 2026, until the following year, October 1, 2027. This deferral is contingent upon approval from Hartford's legislative body and allows the rate maker to prepare new rate bills in accordance with existing statutes. The bill overrides any conflicting provisions in section 12-62 of the general statutes, municipal charters, special acts, or home rule ordinances.

Furthermore, the bill stipulates that any revaluation that is deferred must subsequently be conducted in compliance with section 12-62, resuming the schedule that was in place prior to the deferral. This ensures that the city adheres to the established revaluation timeline after the one-year postponement. The new legal language introduced in this bill includes provisions for the deferral and the conditions for subsequent revaluations, while no specific deletions from current law are noted in the text provided.