CT
Connecticut Senate Bill SB01020

Connecticut 2021 Regular Session

Connecticut Senate Bill SB01020 Compare Versions

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7+General Assembly Substitute Bill No. 1020
8+January Session, 2021
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4-Substitute Senate Bill No. 1020
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6-Public Act No. 21-77
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914 AN ACT ESTABLISHING A REGIONAL ECONOMIC DEVELOPMENT
1015 PILOT PROGRAM.
1116 Be it enacted by the Senate and House of Representatives in General
1217 Assembly convened:
1318
14-Section 1. (NEW) (Effective July 1, 2021) (a) The Department of
15-Economic and Community Development shall establish, within
16-available resources, a regional economic development matching grant
17-pilot program for the purpose of providing matching funds to regional
18-economic development corporations for the implementation of
19-economic development programs in distressed municipalities. Such
20-pilot program shall be available to any regional development
21-corporation representing not less than four municipalities, one of which
22-shall be a distressed municipality, as defined in section 32-9p of the
23-general statutes. The Commissioner of Economic and Community
24-Development may, in his or her discretion, allow a regional economic
25-development corporation that represents less than four municipalities,
26-one of which shall be a distressed municipality, to participate in the
27-program. The department may enter into an agreement, pursuant to
28-chapter 55a of the general statutes, with a person, firm, corporation or
29-other entity to operate such program.
30-(b) Applications for participation in such pilot program shall be
31-submitted in a manner prescribed by the department. Each application Substitute Senate Bill No. 1020
19+Section 1. (NEW) (Effective July 1, 2021) (a) The Department of 1
20+Economic and Community Development shall establish, within 2
21+available appropriations, a regional economic development matching 3
22+grant pilot program for the purpose of providing matching funds to 4
23+regional economic development corporations for the implementation of 5
24+economic development programs in distressed municipalities. Such 6
25+pilot program shall be available to any regional development 7
26+corporation representing not less than five municipalities, two of which 8
27+shall be distressed municipalities, as defined in section 32-9p of the 9
28+general statutes. The department may enter into an agreement, pursuant 10
29+to chapter 55a of the general statutes, with a person, firm, corporation 11
30+or other entity to operate such program. 12
31+(b) Applications for participation in such pilot program shall be 13
32+submitted in a manner prescribed by the department. Each application 14
33+shall include, but need not be limited to, the following: (1) The location 15
34+of the principal place of business of the applicant; (2) an explanation of 16
35+the economic development program for which the matching grant is 17
36+being applied; (3) the amount and source of funding for such program 18 Substitute Bill No. 1020
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35-shall include, but need not be limited to, the following: (1) The location
36-of the principal place of business of the applicant; (2) an explanation of
37-the economic development program for which the matching grant is
38-being applied; (3) the amount and source of funding for such program
39-the applicant seeks to have matched; and (4) such other information the
40-department deems necessary. The department shall not accept new
41-applications for the regional economic development matching grant
42-pilot program after June 30, 2026.
43-(c) In determining whether an applicant shall be selected for a
44-matching grant pursuant to this section, the department, or the operator,
45-if any, selected pursuant to subsection (a) of this section, shall consider,
46-but need not be limited to, the following factors: (1) The description of
47-the economic development program proposed by the applicant; (2) the
48-resources and record of success of the applicant relative to economic
49-development programs implemented by the applicant in the applicant's
50-region; and (3) the potential impact of the proposed economic
51-development program on the workforce in the region where the
52-applicant is located. The department may provide, within available
53-funds, matching grants to eligible applicants for the funding of
54-economic development programs proposed in such applications.
55-(d) The Commissioner of Economic and Community Development
56-may award matching grants to regional economic development
57-corporations participating in the pilot program not exceeding in the
58-aggregate ten million dollars. The amount of any matching grant issued
59-pursuant to this section shall not exceed five million dollars.
60-(e) Not later than two years after the receipt of any financial aid
61-pursuant to this section, and annually thereafter, each regional
62-economic development corporation participating in the pilot program
63-shall submit a report to the Department of Economic and Community
64-Development detailing the progress of the economic development
65-program proposed in such corporation's application and containing any Substitute Senate Bill No. 1020
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43+the applicant seeks to have matched; and (4) such other information the 19
44+department deems necessary. The department shall not accept new 20
45+applications for the regional economic development matching grant 21
46+pilot program after June 30, 2026. 22
47+(c) In determining whether an applicant shall be selected for a 23
48+matching grant pursuant to this section, the department, or the operator, 24
49+if any, selected pursuant to subsection (a) of this section, shall consider, 25
50+but need not be limited to, the following factors: (1) The description of 26
51+the economic development program proposed by the applicant; (2) the 27
52+resources and record of success of the applicant relative to economic 28
53+development programs implemented by the applicant in the applicant's 29
54+region; and (3) the potential impact of the proposed economic 30
55+development program on the workforce in the region where the 31
56+applicant is located. The department may provide, within available 32
57+funds, matching grants to eligible applicants for the funding of 33
58+economic development programs proposed in such applications. 34
59+(d) The Commissioner of Economic and Community Development 35
60+may award matching grants to regional economic development 36
61+corporations participating in the pilot program not exceeding in the 37
62+aggregate ten million dollars. The amount of any matching grant issued 38
63+pursuant to this section shall not exceed five million dollars. 39
64+(e) Not later than two years after the receipt of any financial aid 40
65+pursuant to this section, and annually thereafter, each regional 41
66+economic development corporation participating in the pilot program 42
67+shall submit a report to the Department of Economic and Community 43
68+Development detailing the progress of the economic development 44
69+program proposed in such corporation's application and containing any 45
70+additional information deemed necessary by the Commissioner of 46
71+Economic and Community Development. 47
72+(f) Not later than January 15, 2022, and annually thereafter, the 48
73+Commissioner of Economic and Community Development shall submit 49
74+a report, in accordance with the provisions of section 11-4a of the general 50 Substitute Bill No. 1020
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69-additional information deemed necessary by the Commissioner of
70-Economic and Community Development.
71-(f) Not later than January 15, 2022, and annually thereafter, the
72-Commissioner of Economic and Community Development shall submit
73-a report, in accordance with the provisions of section 11-4a of the general
74-statutes, containing an evaluation of the operation and effectiveness of
75-the pilot program to the joint standing committee of the General
76-Assembly having cognizance of matters relating to commerce.
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81+statutes, containing an evaluation of the operation and effectiveness of 51
82+the pilot program to the joint standing committee of the General 52
83+Assembly having cognizance of matters relating to commerce. 53
84+This act shall take effect as follows and shall amend the following
85+sections:
86+
87+Section 1 July 1, 2021 New section
88+
89+CE Joint Favorable Subst.
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