General Assembly Proposed Bill No. 6100
January Session, 2011 LCO No. 2120
Referred to Committee on Planning and Development
Introduced by:
REP. SHARKEY, 88th Dist. SEN. LOONEY, 11th Dist.
General Assembly
Proposed Bill No. 6100
January Session, 2011
LCO No. 2120
Referred to Committee on Planning and Development
Introduced by:
REP. SHARKEY, 88th Dist.
SEN. LOONEY, 11th Dist.
AN ACT CONCERNING REGIONAL PROPERTY TAX REVENUE SHARING.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That section 32-742 of the general statutes be amended to require regional economic development districts to include in any updated comprehensive economic development strategy a provision for regional property tax revenue sharing for new developments within such district, and to further amend said section to provide that the members of such district shall establish guidelines to govern (1) which developments shall be subject to revenue sharing, and (2) the manner in which such revenue shall be divided.
Statement of Purpose:
To promote regional economic development by establishing a shared commitment to economic growth rather than competition between towns within a region.