Connecticut House Bill HB05330

Connecticut 2010 Regular Session

• Introduced: 2/24/10
• Refer: 2/24/10

Caption

An Act Concerning Connecticut's Economic Future.

Impact

The establishment of the Connecticut Economic Future Council represents a strategic effort to bolster the state's economy through targeted investments. By focusing on specific geographic areas with higher population and unemployment rates, the bill aims to ensure that funds are allocated efficiently to maximize job creation. The council will be responsible for overseeing the implementation of this grant program and may serve as a model for future economic initiatives aimed at revitalizing struggling communities throughout Connecticut.

Summary

House Bill 05330, titled 'An Act Concerning Connecticut's Economic Future,' seeks to establish the Connecticut Economic Future Council to promote job creation and improve economic opportunities within the state. The initiative plans to reallocate state bonding and utilize state employee pension funds to support grants aimed at businesses and municipal projects that can create jobs. The aim is to provide financial assistance to existing businesses and foster civic improvements in areas with high unemployment rates. The bill outlines mechanisms for businesses to apply for grants and stipulates criteria for funding distribution, emphasizing sustainability of the jobs created through these grants.

Contention

Discussion surrounding HB 05330 could involve points of contention, particularly regarding the use of state employee pension funds for initiatives outside traditional education and healthcare funding. Critics may voice concerns about the sustainability of using these funds for economic grants versus maintaining pension security. Additionally, there may be debates regarding the effectiveness and fairness of the scoring system and application process for grants, with some arguing that it could favor established businesses over startups or smaller enterprises.