Post by Logan on Jun 10, 2016 16:11:27 GMT -6
Gov. Dannel P. Malloy has vetoed a bill passed by the legislature that could have allowed municipalities to abate up to 100 percent of property taxes for arts- and culture-related even if the property is used by a for-profit company.
The bill passed the House 125-20 with six legislators absent, while it passed the Senate 35-1.
In his veto message, Malloy notes that "the law already exempts nonprofit organizations from paying property taxes on arts and cultural facilities" for several reasons. Malloy is concerned that municipalities would face pressure to exempt for-profit groups and companies, like movie theaters.
This legislation "could...encourage competition between municipalities to grant tax breaks that rsult in sprawl development rather than development in regional hubs."
Read more: www.courant.com/politics/capitol-watch/hc-gov-malloy-vetoes-tax-credit-tax-abatement-bills-20160609-story.html
The bill passed the House 125-20 with six legislators absent, while it passed the Senate 35-1.
In his veto message, Malloy notes that "the law already exempts nonprofit organizations from paying property taxes on arts and cultural facilities" for several reasons. Malloy is concerned that municipalities would face pressure to exempt for-profit groups and companies, like movie theaters.
This legislation "could...encourage competition between municipalities to grant tax breaks that rsult in sprawl development rather than development in regional hubs."
Read more: www.courant.com/politics/capitol-watch/hc-gov-malloy-vetoes-tax-credit-tax-abatement-bills-20160609-story.html