General Assembly Committee Bill No. 726
January Session, 2015 LCO No. 5404
*_____SB00726CE____032015____*
Referred to Committee on COMMERCE
Introduced by:
(CE)
General Assembly
Committee Bill No. 726
January Session, 2015
LCO No. 5404
*_____SB00726CE____032015____*
Referred to Committee on COMMERCE
Introduced by:
(CE)
AN ACT CONCERNING A STUDY OF A RENAISSANCE DISTRICT PROGRAM.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (Effective October 1, 2015) The Commissioner of Economic and Community Development shall conduct a study to examine the feasibility of establishing a renaissance district program that provides tax benefits to businesses that locate in downtown areas in which multiple arts and cultural sites exist. On or before January 1, 2016, the commissioner shall report, in accordance with section 11-4a of the general statutes, to the joint standing committee of the General Assembly having cognizance of matters relating to commerce on such study. Such report shall include, but not be limited to, (1) an overview of tax benefits and economic development programs currently available to such businesses, (2) an explanation of special taxing districts and other municipally created districts that may aid development in such downtown areas, (3) the potential costs to the state and economic benefits resulting from establishing a renaissance district program, (4) a recommendation concerning the need for a renaissance district program, and (5) if the commissioner determines there is a need for a renaissance district program, legislative recommendations to implement such program.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2015 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2015
New section
CE Joint Favorable
CE
Joint Favorable