Connecticut HB 5077: AN ACT CONCERNING THE REBASING OF THE EDUCATION COST SHARING GRANT FORMULA FOR PURPOSES OF PROPERTY TAX RELIEF.

Bill Text

LCO No. 595 1 of 1

General Assembly Proposed Bill No. 5077
February Session, 2026 LCO No. 595

Referred to Committee on EDUCATION

Introduced by:
REP. YACCARINO, 87th Dist.

AN ACT CONCERNING THE REBASING OF THE EDUCATION COST
SHARING GRANT FORMULA FOR PURPOSES OF PROPERTY TAX
RELIEF.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That (1) subdivision (9) of section 10-262f of the general statutes be 1
amended to redefine "foundation" by (A) phasing in an increase of the 2
amount of the foundation from eleven thousand five hundred twenty-3
five dollars to eighteen thousand six hundred eighty-one dollars over a 4
five-year period, and (B) adding a provision that adjusts such amount 5
in accordance with inflation, and (2) the general statutes be amended to 6
allow a municipality to lower its property tax rate so that the reduction 7
in property tax revenue is equal to the amount of the increase in 8
equalization aid grant funding such municipality receives. 9
Statement of Purpose:
To reduce local property taxes by rebasing the education cost-sharing
grant formula by increasing the foundation amount and adjusting for
inflation.