Connecticut 2022 Regular Session

Connecticut House Bill HB05124

Introduced
2/16/22  
Introduced
2/16/22  
Refer
2/16/22  
Report Pass
3/17/22  
Report Pass
3/17/22  
Refer
3/30/22  
Refer
3/30/22  
Report Pass
4/5/22  
Report Pass
4/5/22  
Engrossed
4/26/22  
Report Pass
4/27/22  
Report Pass
4/27/22  
Passed
5/3/22  
Passed
5/3/22  
Chaptered
5/10/22  
Chaptered
5/10/22  
Enrolled
5/17/22  
Passed
5/23/22  

Caption

An Act Concerning Revisions To Certain Economic And Community Development-related Statutes.

Impact

The legislation modifies existing statutes to allow for the charging of application fees by the Department of Economic and Community Development, thereby enabling it to manage grant processes more effectively. Furthermore, it mandates a study to explore whether the state should extend research and development tax credits to pass-through entities, suggesting potential future changes that could incentivize innovation and investment in technology sectors. These changes are expected to bolster economic growth, create job opportunities, and improve community resilience.

Summary

House Bill 05124, known as An Act Concerning Revisions To Certain Economic And Community Development-related Statutes, aims to enhance the state's economic development framework by establishing funding mechanisms and programs to support major projects and community development initiatives. The bill outlines provisions for grant allocations amounting up to two hundred million dollars to support community development and major projects under the guidance of the Department of Economic and Community Development. It additionally stipulates the creation of competitive application processes for such grants aligned with Connecticut’s Economic Action Plan.

Sentiment

Overall sentiment regarding HB 05124 appears largely positive, reflecting a consensus among lawmakers towards fostering economic growth and community development. However, there may be views on the implications of granting administrative discretion to the Department for fund allocation and program management, creating a need for transparency and accountability to ensure effectiveness and equity in community investments.

Contention

While the intent of the bill is broadly seen as beneficial for economic and community development, points of contention may arise regarding the application fees and the proposed tax credits. Stakeholders may debate on the adequacy of safeguards against potential mismanagement of funds and the broader impact of limiting tax credits to specific business entities, which could exclude smaller firms from benefiting. Such discussions signal an ongoing concern about ensuring that economic measures are inclusive and equitable across all sectors of the community.

Companion Bills

No companion bills found.

Previously Filed As

CT HB05299

An Act Concerning The Department Of Economic And Community Development's Recommendations For Revisions To The Jobsct Program And The Commerce And Related Statutes.

CT HB05434

An Act Concerning The Community Economic Development Fund.

CT HB05293

An Act Concerning The Department Of Developmental Services' Recommendations Regarding Various Revisions To Developmental Services Statutes.

CT HB05223

An Act Concerning Minor Revisions To Agriculture Related Statutes And To Open Space Acquisition Related Statutes.

CT SB00290

An Act Concerning Minor Revisions To Environment Related Statutes.

CT HB05416

An Act Concerning Various Revisions To The Education Statutes.

CT HB05290

An Act Concerning Various Revisions To The Public Health Statutes.

CT SB00154

An Act Concerning Various And Assorted Revisions To The Education Statutes.

CT HB05347

An Act Concerning Authorization Of State Grant Commitments For School Building Projects And Revisions To The School Building Projects Statutes.

CT SB00363

An Act Concerning Assorted Revisions To The Education Statutes.

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