Connecticut Senate Bill SB00400

Connecticut 2016 Regular Session

• Introduced: 3/3/16
• Refer: 3/3/16
• Report Pass: 3/17/16
• Refer: 3/29/16
• Report Pass: 4/5/16
• Refer: 4/19/16
• Report Pass: 4/22/16
• Report Pass: 4/25/16

Caption

An Act Establishing The 7/7 Program To Encourage The Redevelopment Of Brownfields And Underutilized Property.

Impact

If enacted, this bill could significantly affect state laws regarding property redevelopment and environmental regulations. By facilitating economic activities on brownfields, it promotes not only job creation but also environmental cleanup operations, potentially leading to a healthier ecosystem. The tax incentives outlined in the bill, which include credits against business taxes attributable to the operations of participants and exemptions from sales taxes on purchases associated with the brownfield sites, would foster business investment in these otherwise neglected areas.

Summary

SB00400, titled 'An Act Establishing The 7/7 Program To Encourage The Redevelopment Of Brownfields And Underutilized Property', is designed to incentivize the redevelopment of contaminated or underutilized properties in Connecticut, known as brownfields. The bill establishes a program administered by the Department of Economic and Community Development (DECD) that allows eligible property owners to apply for tax credits and other benefits if they successfully redevelop brownfield sites or properties abandoned for more than ten years. This initiative aims to revitalize these areas, encouraging business operations and enhancing economic development within the state.

Sentiment

The overall sentiment regarding SB00400 appears to be supportive among business advocates and legislators who recognize the economic growth potential tied to redeveloping underutilized sites. Proponents argue that the incentives will attract businesses that can provide jobs and services while simultaneously addressing environmental concerns. However, some skepticism remains regarding the long-term implications of such incentives and the effectiveness of oversight in ensuring that developments provide community benefits. There are broader discussions around the balance between economic development and the potential risks associated with brownfield redevelopment.

Contention

Discussions around SB00400 highlight notable points of contention, particularly regarding who qualifies for the program and the regulatory framework that will govern it. Critics express concerns about the possibility of insufficient environmental safeguards if financial incentives become the primary focus. They also raise questions about the adequacy of the mechanisms put in place to guarantee that these redevelopment efforts genuinely meet community needs. Key stakeholders want to ensure that the outcomes of the program align with environmental safety and community welfare, not just business profits.