General Assembly Raised Bill No. 470
February Session, 2010 LCO No. 2209
*_____SB00470GAE___032410____*
Referred to Committee on Government Administration and Elections
Introduced by:
(GAE)
General Assembly
Raised Bill No. 470
February Session, 2010
LCO No. 2209
*_____SB00470GAE___032410____*
Referred to Committee on Government Administration and Elections
Introduced by:
(GAE)
AN ACT CONCERNING ECONOMIC DEVELOPMENT AGENCIES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (e) of section 8-216b of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2010):
(e) The state, acting by and in the discretion of the Commissioner of Economic and Community Development, may enter into a contract with a nonprofit corporation for state financial assistance for a housing and community development project under this section. Such financial assistance shall be in the form of a grant-in-aid in an amount not to exceed two-thirds of the net cost of the activities set forth in subsection (c) of this section which are carried out in connection with the project, and shall be made only to a nonprofit corporation [which] that has secured a commitment for mortgage financing from the United States Department of Housing and Urban Development or the Farmers' Home Administration. Such project shall [conform to] meet the requirements of this section and such other requirements as the commissioner may prescribe.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2010 8-216b(e)
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2010
8-216b(e)
GAE Joint Favorable
GAE
Joint Favorable