An act relating to the Town of Hartford’s tax increment financing district

This bill extends the Town of Hartford's ability to borrow money for its tax increment financing district by three years, allowing debt issuance until March 31, 2026, and extends the period for retaining municipal and education tax revenues until December 31, 2036. The legislation directly affects the Town of Hartford by modifying existing state laws that govern how the town can use tax increment financing to fund local projects. Key provisions amend a 2020 act to update the timelines for both borrowing authority and revenue retention without changing the underlying tax increment financing system. The changes take effect on July 1, 2023, providing the town with additional flexibility to manage its financial obligations and revenue collection for the specified district.