Connecticut Senate Bill SB00401

Connecticut 2011 Regular Session

• Introduced: 1/20/11
• Refer: 1/20/11

Caption

An Act Extending The Benefits Of An Enterprise Zone To Businesses And Property In Parts Of The City Of Bristol And The Town Of Plainville.

Impact

If enacted, SB00401 would directly impact state laws concerning the qualifications for enterprise zones by expanding the geographical area in which businesses can receive incentives. As a result, businesses in Bristol and Plainville could benefit from reduced taxes, simplified regulatory processes, and potential grants or loans aimed at starting or expanding operations. This change is expected to stimulate local economic growth, create job opportunities for residents, and enhance the overall economic landscape in these communities.

Summary

SB00401, presented by Senator Welch, aims to extend the benefits of an enterprise zone to businesses and properties in specific parts of the city of Bristol and the town of Plainville. The bill proposes amendments to section 32-41s of the general statutes to include these areas in the existing framework that provides certain benefits to eligible businesses. The intent is to promote economic development and assist local economies by incentivizing businesses to operate and invest in these regions.

Contention

Discussions surrounding the bill may raise points of contention related to fairness and resource allocation. Critics may argue that the extension of benefits could favor certain communities over others and that it may divert attention from existing areas that currently need support. Supporters, however, will likely emphasize the necessity of regional economic development, especially in less economically robust areas, and the potential for job creation that such incentives could bring. The ultimate debate may revolve around the effectiveness of enterprise zones and whether expanding their benefits can indeed lead to tangible improvements in the local economies of Bristol and Plainville.