Legislative Resources

Connecticut CCIM Chapter is committed to keeping its membership up to date on current political issues that affect our industry both locally and nationally. We have members from our Board of Directors attending NAR meetings at the Connecticut State Capitol in addition to representing the chapter at the CCIM Institute’s Capitol Hill visits in conjunction with the National Association of REALTORS® Legislative Meetings and Trade Expo. Working with your state and local NAR associations, CCIMs can bring issues that affect commercial real estate to Capitol Hill.

National Public Policy          CT PUBLIC POLICY

TRANSFER ACT UPDATES - March 2020

Public testimony has begun through the Transfer Act Work Group.  There are 2 bills – SB281 raised through the Commerce Committee deals with the work we did over the past few months in the TA Working Group (see attached report) and reflects changes that we view favorably up through section 6.  The sections after that deal with dumping the TA in favor of a release- based system.  The other bill - SB293 raised through the Environmental Committee just deals with sunsetting the TA for a release-based system – same language as used in SB281, section 7 on.  For more information, see the reports below or contact our Legislative Chair.

Transfer Act Report

Transfer Act Testimony

CTR Supported, Passed House & Senate (awaiting Governor signature)

  • Modernizing the Transfer Act (SB 1030)– significant changes to make it easier to transfer commercial properties

  • Addressing Student Debt (SB 72) – establishes a tax credit for employers who provide repayment option of employee student loans, with certain restrictions

  • Incentivizing Opportunity Zones (SB 570) – provides funding for a study to identify state incentives for investments in opportunity zones.

CTR Opposed, Died

  • (3) Onerous Real Estate Tax Provisions (SB 877) – those included a Statewide Property Tax, a tax on real estate commissions (and other services in transactions) and an additional sellers conveyance tax on properties over $800K

  • Increase in Capital Gains (proposed budget)

  • New Buyer’s Conveyance Tax (HB 5254) for the purposes of buying or maintaining open space

  • Increase in Occupational Fees (SB 9) – would have increased license renewal fees by 75%

CTR Supported, Died

    • Original Public Option Health Care Bill (HB 7267) – would have permitted small businesses including independent contractors to get health insurance through the state employee plan. Bill changed completely to be a universal health care plan with mandates, then the proposal died.

    • LLC Series (HB 7127) – would permit an LLC to have sub-LLCs series with same protections as standalones

    • Repeal of the Estate and Gift Taxes (HB 7410) – not included in final budget or standalones

get involved

To get involved in REALTORS® Political Action Committee (RPAC), visit NAR RPAC 

To discuss these important issues with your representatives, follow these links:

Sign up for CT Realtors “Call to Action” text program. It is easy to participate and will give CT Realtors a $100 dues discount!

For more information, please contact the Legislative Chair.