HB 5077

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:
1That (1) subdivision (9) of section 10-262f of the general statutes be
2    amended to redefine "foundation" by (A) phasing in an increase of the
3    amount of the foundation from eleven thousand five hundred twenty-
4    five dollars to eighteen thousand six hundred eighty-one dollars over a
5    five-year period, and (B) adding a provision that adjusts such amount
6    in accordance with inflation, and (2) the general statutes be amended to
7    allow a municipality to lower its property tax rate so that the reduction
8    in property tax revenue is equal to the amount of the increase in
9    equalization aid grant funding such municipality receives.
    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.
 LCO No. 595  1 of 1