General Assembly Committee Bill No. 6100
January Session, 2011 LCO No. 4722
*_____HB06100FIN___060111____*
Referred to Committee on Planning and Development
Introduced by:
(PD)
General Assembly
Committee Bill No. 6100
January Session, 2011
LCO No. 4722
*_____HB06100FIN___060111____*
Referred to Committee on Planning and Development
Introduced by:
(PD)
AN ACT CONCERNING REGIONAL PROPERTY TAX REVENUE SHARING.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (a) of section 32-742 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2011):
(a) The board of directors of a regional economic development district shall comply with the provisions of 13 CFR 304.2 and shall prepare and approve a comprehensive economic development strategy for the district to address identified economic development problems in a manner that promotes economic development and opportunity and housing availability, fosters effective transportation access, improves workforce development, enhances and protects the environment, balances resources through sound management of development, and encourages responsible growth and development. A comprehensive economic development strategy shall contain:
(1) An analysis of economic and community development problems and opportunities, including incorporation of any relevant material or suggestions from other government-sponsored or supported plans;
(2) Background and history of economic development in the district, with a discussion of the economy, geography, population, labor force, resources and the environment;
(3) A discussion of community participation in the planning efforts for the strategy;
(4) The goals and objectives for (A) taking advantage of the opportunities in the district, and (B) solving the economic development problems of the district;
(5) A plan of action, including suggested projects to implement the goals and objectives set forth in subdivision (4) of this subsection; [and]
(6) Performance measures that will be used to evaluate whether and to what extent such goals and objectives have been met; and
(7) Provisions for sharing property tax revenue generated by new economic development within the district, including guidelines governing (A) the identification of those developments whose property tax payments will be subject to property tax revenue sharing, and (B) the manner in which such property tax revenue shall be shared.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2011 32-742(a)
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2011
32-742(a)
PD Joint Favorable
FIN Joint Favorable
PD
Joint Favorable
FIN
Joint Favorable