(a) In lieu of real property taxes, special benefit assessments and sewerage system use charges otherwise payable to such municipality, except in such municipalities as, by special act or charter, on May 20, 1957, had a sewer use charge, an authority shall pay each year to the municipality in which any of its moderate rental housing projects are located a sum to be determined by the municipality, with the approval of the Commissioner of Housing, not in excess of twelve and one-half per cent of the shelter rent per annum for each occupied dwelling unit in any such housing project; except that the amount of such payment shall not be so limited in any case where funds are made available for such payment by an agency or department of the United States government, but no payment shall exceed the amount of taxes which would be paid on the property were the property not exempt from taxation.

Terms Used In Connecticut General Statutes 8-71

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

(b) Each municipality that received a grant-in-aid pursuant to § 8-216 in the fiscal year ending June 30, 2015, shall waive any payment that becomes payable, pursuant to subsection (a) of this section, during any fiscal year in which no grant-in-aid for such amount is made, pursuant to § 8-216, except that no waiver shall be required in any case where funds are made available for such payment by an agency or department of the United States government.

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