2005 Connecticut Code - Sec. 12-242gg. Eminent domain; taking of right to claim income exclusion; notice of aggregate condemnation. Waiver of right to claim taking.
Sec. 12-242gg. Eminent domain; taking of right to claim income exclusion;
notice of aggregate condemnation. Waiver of right to claim taking. (a) On March
8, 1995, the state of Connecticut, through the secretary, takes from all persons who were
owners of a state obligation at any time during the period starting with the application
date and ending on March 8, 1995, any right, title, claim and interest under statutory or
common law, including any right, title, claim or interest based on representations in the
offering documents for any state obligation, relating to the exclusion of interest accrued
on or after the application date on such obligation from gross income for the purposes
of calculating the tax imposed under sections 12-213 to 12-242i, inclusive, for any
income year which ends on or after the application date. Title to all rights, titles, claims
and interests taken pursuant to this section shall vest in the state on March 8, 1995. The
state shall provide just compensation for such takings.
(c) Notwithstanding any provision of the general statutes, the taking of a right with respect to an affected state obligation pursuant to this section shall be effective notwithstanding any limit or restriction on the transfer of such right.
(P.A. 88-230, S. 1, 12; P.A. 90-98, S. 1, 2; P.A. 93-142, S. 4, 7, 8; P.A. 95-2, S. 4, 33, 37; 95-220, S. 4-6.)
History: P.A. 95-2 effective March 8, 1995 (Revisor's note: P.A. 88-230, 90-98, 93-142 and 95-220 authorized substitution of "judicial district of Hartford" for "judicial district of Hartford-New Britain at Hartford" in 1995 public and special acts, effective September 1, 1998).
Disclaimer: These codes may not be the most recent version. Connecticut may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.