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General Assembly Substitute Bill No. 1020
January Session, 2021
AN ACT ESTABLISHING A REGIONAL ECONOMIC DEVELOPMENT
PILOT PROGRAM.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (NEW) (Effective July 1, 2021) (a) The Department of 1
Economic and Community Development shall establish, within 2
available appropriations, a regional economic development matching 3
grant pilot program for the purpose of providing matching funds to 4
regional economic development corporations for the implementation of 5
economic development programs in distressed municipalities. Such 6
pilot program shall be available to any regional development 7
corporation representing not less than five municipalities, two of which 8
shall be distressed municipalities, as defined in section 32-9p of the 9
general statutes. The department may enter into an agreement, pursuant 10
to chapter 55a of the general statutes, with a person, firm, corporation 11
or other entity to operate such program. 12
(b) Applications for participation in such pilot program shall be 13
submitted in a manner prescribed by the department. Each application 14
shall include, but need not be limited to, the following: (1) The location 15
of the principal place of business of the applicant; (2) an explanation of 16
the economic development program for which the matching grant is 17
being applied; (3) the amount and source of funding for such program 18 Substitute Bill No. 1020
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the applicant seeks to have matched; and (4) such other information the 19
department deems necessary. The department shall not accept new 20
applications for the regional economic development matching grant 21
pilot program after June 30, 2026. 22
(c) In determining whether an applicant shall be selected for a 23
matching grant pursuant to this section, the department, or the operator, 24
if any, selected pursuant to subsection (a) of this section, shall consider, 25
but need not be limited to, the following factors: (1) The description of 26
the economic development program proposed by the applicant; (2) the 27
resources and record of success of the applicant relative to economic 28
development programs implemented by the applicant in the applicant's 29
region; and (3) the potential impact of the proposed economic 30
development program on the workforce in the region where the 31
applicant is located. The department may provide, within available 32
funds, matching grants to eligible applicants for the funding of 33
economic development programs proposed in such applications. 34
(d) The Commissioner of Economic and Community Development 35
may award matching grants to regional economic development 36
corporations participating in the pilot program not exceeding in the 37
aggregate ten million dollars. The amount of any matching grant issued 38
pursuant to this section shall not exceed five million dollars. 39
(e) Not later than two years after the receipt of any financial aid 40
pursuant to this section, and annually thereafter, each regional 41
economic development corporation participating in the pilot program 42
shall submit a report to the Department of Economic and Community 43
Development detailing the progress of the economic development 44
program proposed in such corporation's application and containing any 45
additional information deemed necessary by the Commissioner of 46
Economic and Community Development. 47
(f) Not later than January 15, 2022, and annually thereafter, the 48
Commissioner of Economic and Community Development shall submit 49
a report, in accordance with the provisions of section 11-4a of the general 50 Substitute Bill No. 1020
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statutes, containing an evaluation of the operation and effectiveness of 51
the pilot program to the joint standing committee of the General 52
Assembly having cognizance of matters relating to commerce. 53
This act shall take effect as follows and shall amend the following
sections:
Section 1 July 1, 2021 New section
CE Joint Favorable Subst.