General Assembly Raised Bill No. 6649
January Session, 2013 LCO No. 4650
*04650_______CE_*
Referred to Committee on COMMERCE
Introduced by:
(CE)
General Assembly
Raised Bill No. 6649
January Session, 2013
LCO No. 4650
*04650_______CE_*
Referred to Committee on COMMERCE
Introduced by:
(CE)
AN ACT CONCERNING A CONNECTICUT PRIVATE INVESTMENT FUND WITH A PUBLIC MISSION.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (Effective July 1, 2013) On or before December 31, 2013, the Commissioner of Economic and Community Development shall, in accordance with section 11-4a of the general statutes, submit a report to the joint standing committee of the General Assembly having cognizance of matters relating to commerce concerning the viability of developing a program in which the Department of Economic and Community Development would encourage the formation of a private investment fund with a public mission by pledging to commit matching funds to investments to such fund. In preparing the report, the commissioner shall examine the partnership fund for New York City. The report shall include, but not be limited to, (1) an assessment as to whether the development of a similar fund in the state, with support from the Department of Economic and Community Development, would be feasible, (2) a recommendation as to whether the formation of such fund should be pursued, and, if so, (3) a plan to establish a program that would match investments to a similar fund developed in the state.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2013 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2013
New section
Statement of Purpose:
To require the Department of Economic and Community Development to submit a report concerning the development of a private investment fund with a public mission to which the state would provide matching investments.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]