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News Junkie: State sheds light on stranded funding and municipal aid cuts

HARTFORD, Conn. — While local officials initially celebrated passage of the two-year bipartisan budget, they may be not be as happy after learning it stranded millions of dollars and made towns responsible for about $20 million in elderly tax relief.

The recently signed state budget, according to a memo from the Office of Policy and Management, did not fund the elderly circuit breaker program. That means towns will be on the hook for about $20 million in tax relief for the elderly and disabled.

The state typically provides tax credits for the elderly and disabled whose annual incomes don’t exceed a certain limit. The amount of the credit may be up to $1,250 for married couples and $1,000 for single persons.

Read the full story on CT News Junkie.

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