CONCEPT DRAFT

SUMMARY

This bill is a concept draft pursuant to Joint Rule 208.

The purpose of this bill is to amend the law in ways that allow municipalities to achieve goals such as encouraging open space preservation, controlling sprawl and supporting affordable housing.

This bill proposes to authorize communities and property owners to negotiate agreements under which a property owner would receive a reduction in property taxes in return for the property owner's agreement to use the property in a manner benefitting the town in some manner for a period of 10 years. Under this bill, the property owner could negotiate a reduction in property taxes in exchange for delaying the development of the land, providing public access for hunting and fishing, or building affordable housing. Any negotiated agreements reached by the property owner and the town officials would require approval by the town.