Sec. 47-213. Adjustment of dollar amount.
Sec. 47-213. Adjustment of dollar amount. (a) From time to time the dollar
amount specified in subdivision (3) of subsection (a) of section 47-215 shall change, as
provided in subsections (b) and (c) of this section, according to and to the extent of
changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers:
U.S. City Average, All Items, 1967 = 100, compiled by the Bureau of Labor Statistics,
United States Department of Labor, (the "Index"). The Index for December, 1979, which
was 230, is the Reference Base Index.
(b) The dollar amount specified in subdivision (3) of subsection (a) of section 47-215 and any amount stated in the declaration pursuant to said section shall change on
July first of each year if the percentage of change, calculated to the nearest whole percentage point, between the Index at the end of the preceding year and the Reference Base
Index is ten per cent or more, but (1) the portion of the percentage change in the Index
in excess of a multiple of ten per cent shall be disregarded and the dollar amount shall
change only in multiples of ten per cent of the amount appearing in this chapter on
January 1, 1984; (2) the dollar amount shall not change if the amount required by this
section is that currently in effect pursuant to this chapter as a result of earlier application
of this section; and (3) in no event may the dollar amount be reduced below the amount
appearing in this chapter on January 1, 1984.
(c) If the Index is revised after December, 1979, the percentage of change pursuant
to this section shall be calculated on the basis of the revised Index. If the revision of
the Index changes the Reference Base Index, a revised Reference Base Index shall be
determined by multiplying the Reference Base Index then applicable by the rebasing
factor furnished by the Bureau of Labor Statistics. If the Index is superseded, the Index
referred to in this section is the one represented by the Bureau of Labor Statistics as
reflecting most accurately changes in the purchasing power of the dollar for consumers.
(P.A. 83-474, S. 14, 96; P.A. 84-472, S. 3, 23; P.A. 95-187, S. 3.)
History: P.A. 84-472 made minor technical changes; P.A. 95-187 amended Subsecs. (a) and (b) to delete references to
the dollar amount specified in "subdivision (7) of subsection (b) of section 47-262", replace "amounts" with "amount"
and make technical changes.