A Wall Street credit rating agency nudged the state to pump $135 million in new general government aid to municipalities.
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Posted inEconomic Development
CCM tries to get a little louder on property tax relief
After watching state aid erode over the past decade, Connecticut municipalities hope to appeal directly to voters to order property tax relief.
Posted inPolitics
A rainy day fund beckons, but Lamont insists on fiscal reforms
Ned Lamont’s biggest challenge as governor is likely to be devising and then selling fellow Democrats in the General Assembly on the “structural changes” he says are necessary to break Connecticut’s cycle of chronic budget deficits.
Posted inEducation, Money
Municipal aid hit will multiply as big grants are cut this week
The toll Connecticut’s budget standoff has taken on cities and towns will nearly quadruple this week as key education and general government grants will be reduced or withheld.
Posted inEducation, Health, Money, Politics
House adopts controversial state budget
Connecticut’s long-running budget drama began drawing to a close early Wednesday as the House of Representatives adopted a $40.3 billion, two-year package that largely restores deep cuts to social services and expands municipal aid while bolstering tax revenues by almost $2 billion.
Posted inMoney, Politics
House approves bill to restrict tax exemption for colleges, hospitals
The House of Representatives approved a measure early Friday that would end a portion of the municipal tax exemption long possessed by private, nonprofit colleges and hospitals.
Posted inMoney
Defying Malloy, legislators pitch a $1.8 billion revenue increase
A key legislative panel broke Wednesday with Gov. Dannel P. Malloy by recommending a plan that bolsters state tax and fee receipts by more than $1.8 billion over the next two fiscal years, including more than $540 million in new income taxes on the wealthy and an overhaul of the sales tax.
Posted inEducation, Money
Panel: Empower towns to raise revenue, control special ed costs
Expanding municipal taxation options, encouraging communities to share costs regionally and reforming special education topped House Speaker J. Brendan Sharkey’s new plan Thursday to bolster local and state budgets.
Posted inPolitics
Sharkey’s property tax compromise dies in the Senate
House Speaker J. Brendan Sharkey, D-Hamden, made a last-ditch effort Wednesday to pass a compromise version of his bill to limit the property-tax exemption for non-profit institutions, but it died amid an ice-cold reception from senators and red-hot opposition from colleges.
Posted inEducation, Money, Politics
Horse-trading on Derby day: preschool for property taxes?
The state House of Representatives took a step Saturday toward curbing the property-tax exemption enjoyed by nonprofit hospitals and colleges — and what the House members hope will be a bigger step toward improving relations with the Senate.