A bill has been introduced before the Connecticut General Assembly that would eliminate property tax exemptions for real property acquired by an “independent institution of higher education” on or after October 1, 2024 regardless of the property’s use. An “independent institution of higher education” is defined as a nonprofit institution established in Connecticut that has its main campus and degree-granting authority in the state. Institutions that are part of the Connecticut system of public higher education or whose primary function is the preparation of students for religious vocations are excluded from the bill. This proposed legislation is the latest attempt to reduce or eliminate longstanding property tax exemptions available to different types of nonprofit institutions. Raised Bill No. 5276 is currently pending before the Legislature’s Planning and Development Committee and has been scheduled for a public hearing before the Planning and Development Committee on February 28 at 10:00 at the Connecticut State Capitol.

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