General Assembly Substitute Bill No. 107
February Session, 2010 *_____SB00107FIN___042710____*
General Assembly
Substitute Bill No. 107
February Session, 2010
*_____SB00107FIN___042710____*
AN ACT ESTABLISHING A BRADLEY DEVELOPMENT ZONE.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective July 1, 2010) There is established an airport development zone, which is comprised of the following census blocks as assigned on the effective date of this section in the towns of Windsor Locks, Suffield, East Granby and Windsor:
090034701001022, 090034701003000, 090034701003001, 090034701003002, 090034701003003, 090034701003004, 090034701003005, 090034701003017, 090034701003018, 090034701003019, 090034701003020, 090034701003021, 090034701003025, 090034701003026, 090034735022009, 090034735022010, 090034735022011, 090034735022012, 090034735022013, 090034735025004, 090034735027000, 090034735029000, 090034735029001, 090034735029002, 090034735029003, 090034735029004, 090034735029006, 090034761009000, 090034761009010, 090034761009011, 090034761009012, 090034761009013, 090034762001023, 090034762001025, 090034762002009, 090034762002013, 090034763003004, 090034763009000, 090034763009001, 090034763009002, 090034763009003, 090034763009004, 090034763009005, 090034763009006, 090034763009007, 090034763009008, 090034763009009, 090034763009010, 090034763009011, 090034763009012, 090034763009013, 090034763009014, 090034763009015, 090034763009016, 090034763009017, 090034763009018, 090034763009020, 090034763009021, 090034763009022, 090034763009023, 090034763009024, 090034763009025, 090034763009026, 090034763009031, 090034763009033, 090034771014005, 090034771014011, 090034771014012, 090034771014013, 090034771014014, 090034771014017, 090034771014018, 090034771014019, 090034771014020, 090034771023025, 090034771023026, 090034771023027, 090034771023036,
090034701003006, 090034701003022, 090034701003023,
090034701005000, 090034761001039, 090034763009028.
Sec. 2. (NEW) (Effective October 1, 2010, and applicable to assessment years commencing on or after October 1, 2011) (a) (1) Any municipality that is part of the airport development zone established pursuant to section 1 of this act may, by vote of its legislative body, enter into an agreement with any party owning or proposing to acquire an interest in real property in such municipality, or with any party owning or proposing to acquire an interest in air space in such municipality, or with any party who is the lessee of, or who proposes to be the lessee of, air space in such municipality in such a manner that the air space leased or proposed to be leased shall be assessed to the lessee pursuant to section 12-64 of the general statutes. Subject to the provisions of subsection (b) of this section, such agreement may fix the assessment of the real property or air space which is the subject of the agreement, and all improvements thereon or therein and to be constructed thereon or therein, (A) for a period of not more than seven years, provided the cost of such improvements to be constructed is not less than three million dollars; (B) for a period of not more than two years, provided the cost of such improvements to be constructed is not less than five hundred thousand dollars; or (C) for a period of not more than three years, for not more than fifty per cent of such increased assessment, provided the cost of such improvements to be constructed is not less than twenty-five thousand dollars. A municipality shall submit an agreement made pursuant to this section to the Commissioner of Economic and Community Development for approval.
(2) A municipality may enter into agreements pursuant to subsection (a) of this section for a period of ten years following the date on which such municipality entered into the first such agreement.
(b) The provisions of subsection (a) of this section shall only apply if (1) the improvements are for at least one of the following: (A) Office use; (B) manufacturing use; (C) warehouse, storage or distribution use; (D) information technology; (E) recreation facilities; or (F) transportation facilities; or (2) the improvements are for a business in a cluster designated by the commissioner pursuant to section 32-1o of the general statutes.
(c) The state shall make an annual grant payment to each municipality entering into an agreement under subsection (a) of this section with respect to property located in an airport development zone in the amount of forty per cent of the amount of that tax revenue which the municipality would have received except for the agreement entered into pursuant to subsection (a) of this section. On or before the first day of August of each year, each municipality shall file a claim with the Secretary of the Office of Policy and Management for the amount of such grant payment to which such municipality is entitled under this subsection. The claim shall be made on forms prescribed by the secretary and shall be accompanied by such supporting information as the secretary may require, but shall include for each party such party's location, the North American Industry Classification System Code for such party, the amount to be reimbursed and the term of the fixed assessment. Any municipality which neglects to transmit to the secretary such claim and supporting documentation as required by this section shall forfeit two hundred fifty dollars to the state, provided the secretary may adopt regulations in accordance with the provisions of chapter 54 of the general statutes to provide procedures and standards to waive such forfeiture. The secretary shall review each such claim in the manner provided in section 12-120b of the general statutes. Any municipality aggrieved by the results of the secretary's review may proceed in the manner set forth in section 12-120b of the general statutes. The secretary shall, on or before the December fifteenth next succeeding the deadline for the receipt of such claims, certify to the Comptroller the amount due under this section, including any modification of such claim made prior to December fifteenth, to each municipality which has made a claim under the provisions of this subsection. The Comptroller shall draw an order on the Treasurer on or before the fifth business day following December fifteenth, and the Treasurer shall pay the amount thereof to each such municipality on or before the following December thirty-first. If any modification is made as the result of the provisions of this section on or after the December first following the date on which the municipality has provided the amount of tax revenue in question, any adjustment to the amount due to any municipality for the period for which such modification was made shall be made in the next payment the Treasurer shall make to such municipality pursuant to this section. The amount of the grant payable to each municipality in accordance with this section shall be reduced proportionately in the event that the total amount of the grants payable to all municipalities exceeds the amount appropriated.
Sec. 3. (NEW) (Effective October 1, 2010, and applicable to income years commencing on or after January 1, 2012) (a) There shall be allowed as a credit against the tax imposed by chapter 208 of the general statutes for any business occupying a property located in the airport development zone established in section 1 of this act in an amount equal to the following percentage of that portion of such tax which is allocable to that property: (1) Thirty per cent, if there are twenty-five or more but not more than one hundred fifty new employees working at such property; or (2) fifty per cent if there are one hundred fifty or more new employees working at such property. Businesses seeking an eligibility certificate for a credit pursuant to this section shall apply to the Department of Revenue Services and shall include in such application a revenue impact assessment that estimates the state and local revenue that would be generated as a result of the project. As used in this subsection: (A) "New employee" means a person hired to fill a position for a new job or a person shifted from an existing location outside this state to the airport development zone, provided (i) in no case shall the total number of new employees allowed for purposes of this credit exceed the total increase in the taxpayer's employment in this state, which increase shall be the difference between (I) the number of employees employed by the taxpayer in this state at the time of application to the Commissioner of Revenue Services for such credit plus the number of new employees who would be eligible for inclusion under the credit allowed under this subsection without regard to this calculation, and (II) the highest number of employees employed by the taxpayer in this state in the year preceding the taxpayer's application to the Commissioner of Revenue Services for an eligibility certificate for such credit, and (ii) a person shall be deemed to be a "new employee" only if such person's duties in connection with the operation of the facility are on a regular, full-time or equivalent, or full-time and permanent basis; and (B) "new job" means a job that did not exist in the business of a taxpayer in this state prior to the taxpayer's application to the Commissioner of Revenue Services for an eligibility certificate for such credit and that is filled by a new employee, but does not include a job created when an employee is shifted from an existing location of the taxpayer in this state to the airport development zone.
(b) The credit allowed by this section may be claimed only by an occupant or occupants of the property who have received an eligibility certificate. The credit may first be claimed on the tax return for the taxpayer's income year which begins during the calendar year next succeeding the calendar year in which the taxpayer was issued an eligibility certificate, and may be claimed in each of the following nine income years. If within such period, however, any property ceases to meet the job creation target under which it qualified for the credits, or any occupant ceases to be an occupant, the entitlement to the credit allowed by this section shall terminate in the income year in which the qualification or occupancy ceases, and there shall not be a pro rata application of the credit to such income year.
Sec. 4. Subdivision (43) of section 12-412 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2011, and applicable to sales occurring on or after said date):
(43) Sales of any replacement parts for machinery to any business entity located in any enterprise zone designated pursuant to section 32-70 or in the airport development zone established in section 1 of this act for use within such zone.
Sec. 5. (NEW) (Effective from passage) The Bradley Board of Directors may contract with the Connecticut Center for Advanced Technology to help manufacturers and technology-based businesses locating in the airport development zone established in section 1 of this act, to (1) apply for financial assistance; (2) obtain job training services from the state's community technical colleges; and (3) obtain job training services from other training providers.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2010 New section
Sec. 2 October 1, 2010, and applicable to assessment years commencing on or after October 1, 2011 New section
Sec. 3 October 1, 2010, and applicable to income years commencing on or after January 1, 2012 New section
Sec. 4 October 1, 2011, and applicable to sales occurring on or after said date 12-412(43)
Sec. 5 from passage New section
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2010
New section
Sec. 2
October 1, 2010, and applicable to assessment years commencing on or after October 1, 2011
New section
Sec. 3
October 1, 2010, and applicable to income years commencing on or after January 1, 2012
New section
Sec. 4
October 1, 2011, and applicable to sales occurring on or after said date
12-412(43)
Sec. 5
from passage
New section
CE Joint Favorable Subst.
TRA Joint Favorable
FIN Joint Favorable
CE
Joint Favorable Subst.
TRA
Joint Favorable
FIN
Joint Favorable