HB 5979 Connecticut House · 2025 Regular Session

AN ACT EXEMPTING CONVEYANCES AND SALES OR TRANSFERS OF CONTROLLING INTEREST TO PUBLIC HOUSING AUTHORITIES FROM THE REAL ESTATE CONVEYANCE TAX AND THE CONTROLLING INTEREST TRANSFER TAX.

This bill exempts property transfers to public housing authorities from two state taxes: the real estate conveyance tax and the controlling interest transfer tax. It directly affects public housing authorities purchasing properties, removing a financial barrier to acquiring housing units for affordable housing programs. The key provision adds a specific exemption to the tax code (section 12-498(23)) for deeds made to public housing authorities in the state. This change reduces costs for public housing entities when acquiring properties, supporting their mission to provide affordable housing.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 22, 2025 Last action May 8, 2025

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What changed between versions

Proposed Bill → Committee Bill · 5 edits

MODERATE

The bill was amended to broaden its scope from exempting only conveyances to nonprofit organizations and public housing authorities to also include sales or transfers of controlling interests to housing authorities. The bill now repeals and replaces two sections of the general statutes to provide comprehensive exemptions from real estate conveyance tax and controlling interest transfer tax for various property transactions, including those involving nonprofits, public housing authorities, and other specific scenarios like principal residence transfers and conservation land.

Scope change

The bill's scope expanded from exempting conveyances to certain nonprofit organizations and public housing authorities to also include sales or transfers of controlling interests to housing authorities, and now covers both real estate conveyance tax and controlling interest transfer tax.

SCOPE

The bill title and scope were expanded to include sales or transfers of controlling interests to housing authorities in addition to conveyances to nonprofit organizations and public housing authorities.

ELIGIBILITY

New exemptions were added for various property transactions including deeds between spouses, conservation land, principal residences, and transfers between affiliated corporations.

TIMELINE

The bill now specifies that the changes are effective July 1, 2025, and apply to conveyances or transfers made on or after that date.

REQUIREMENT

New requirements were added for deeds related to pyrrhotite foundation issues, including written evaluations from licensed engineers and restrictions on financial assistance recipients.

DEFINITION

New definitions were added for affordable housing, enterprise zones, and entertainment districts to clarify which properties qualify for tax exemptions.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 24, 2025

Lower · Passed

Joint Favorable

lower

Apr 21, 2025

Committee

REF. TO JOINT COMM. ON Finance, Revenue and Bonding

lower

Apr 17, 2025

Lower · Passed

DRAFTED BY COMMITTEE

lower

Jan 22, 2025

Committee

REF. TO JOINT COMM. ON Finance, Revenue and Bonding

lower

2 primary · 0 co-sponsors