Substitute Senate Bill No. 1020
Public Act No. 21-77
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
Economic and Community Development shall establish, within
available resources, a regional economic development matching grant
pilot program for the purpose of providing matching funds to regional
economic development corporations for the implementation of
economic development programs in distressed municipalities. Such
pilot program shall be available to any regional development
corporation representing not less than four municipalities, one of which
shall be a distressed municipality, as defined in section 32-9p of the
general statutes. The Commissioner of Economic and Community
Development may, in his or her discretion, allow a regional economic
development corporation that represents less than four municipalities,
one of which shall be a distressed municipality, to participate in the
program. The department may enter into an agreement, pursuant to
chapter 55a of the general statutes, with a person, firm, corporation or
other entity to operate such program.
(b) Applications for participation in such pilot program shall be
submitted in a manner prescribed by the department. Each application Substitute Senate Bill No. 1020
Public Act No. 21-77 2 of 3
shall include, but need not be limited to, the following: (1) The location
of the principal place of business of the applicant; (2) an explanation of
the economic development program for which the matching grant is
being applied; (3) the amount and source of funding for such program
the applicant seeks to have matched; and (4) such other information the
department deems necessary. The department shall not accept new
applications for the regional economic development matching grant
pilot program after June 30, 2026.
(c) In determining whether an applicant shall be selected for a
matching grant pursuant to this section, the department, or the operator,
if any, selected pursuant to subsection (a) of this section, shall consider,
but need not be limited to, the following factors: (1) The description of
the economic development program proposed by the applicant; (2) the
resources and record of success of the applicant relative to economic
development programs implemented by the applicant in the applicant's
region; and (3) the potential impact of the proposed economic
development program on the workforce in the region where the
applicant is located. The department may provide, within available
funds, matching grants to eligible applicants for the funding of
economic development programs proposed in such applications.
(d) The Commissioner of Economic and Community Development
may award matching grants to regional economic development
corporations participating in the pilot program not exceeding in the
aggregate ten million dollars. The amount of any matching grant issued
pursuant to this section shall not exceed five million dollars.
(e) Not later than two years after the receipt of any financial aid
pursuant to this section, and annually thereafter, each regional
economic development corporation participating in the pilot program
shall submit a report to the Department of Economic and Community
Development detailing the progress of the economic development
program proposed in such corporation's application and containing any Substitute Senate Bill No. 1020
Public Act No. 21-77 3 of 3
additional information deemed necessary by the Commissioner of
Economic and Community Development.
(f) Not later than January 15, 2022, and annually thereafter, the
Commissioner of Economic and Community Development shall submit
a report, in accordance with the provisions of section 11-4a of the general
statutes, containing an evaluation of the operation and effectiveness of
the pilot program to the joint standing committee of the General
Assembly having cognizance of matters relating to commerce.