General Assembly Proposed Bill No. 5660
January Session, 2015 LCO No. 1045
*01045*
Referred to Committee on COMMERCE
Introduced by:
REP. LAVIELLE, 143rd Dist.
General Assembly
Proposed Bill No. 5660
January Session, 2015
LCO No. 1045
*01045*
Referred to Committee on COMMERCE
Introduced by:
REP. LAVIELLE, 143rd Dist.
AN ACT CONCERNING THE PROPER USE OF ECONOMIC DEVELOPMENT FINANCIAL ASSISTANCE.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That section 32-455 of the general statutes, which requires that contracts with recipients of economic development financial assistance for threshold projects include provisions concerning (1) the approved purpose of such financial assistance, and (2) remedies in the event a recipient fails to use such financial assistance for approved purposes, be amended to apply to contracts with recipients of economic development financial assistance for any economic development project.
Statement of Purpose:
To ensure that economic development financial assistance is used for the purposes for which it is awarded.