CT SB00110

Repeals the July 1, 2012 sunset date for tax incremental financing programs under Connecticut General Statutes Section 32-23zz, allowing information technology and remediation projects to continue receiving financing assistance indefinitely.

Repeals the July 1, 2012 sunset date for tax incremental financing programs under Section 32-285, allowing the state to continue issuing bonds backed by incremental hotel taxes, sales taxes, and admissions/cabaret/dues taxes to support eligible economic development projects.

Renumbers subsection (g) to subsection (f) in Section 32-23zz to reflect the removal of the sunset provision while preserving provisions for remediation projects involving vacant or underutilized buildings with delinquent property taxes.

Effective date: October 1, 2010 for both amendments to Sections 32-23zz and 32-285.