CT HB06283

Establishes a task force to study economic development and state welfare, including methods to encourage business growth and retention for companies unable to obtain financing due to banking system liquidity contraction.

Task force shall examine ways to stimulate job growth and retention, develop all geographic regions of the state, increase state and municipal tax revenue, and address financing gaps created by financial institution mergers, takeovers, or liquidations.

Task force composition includes 11 members: two each appointed by the Speaker and President Pro Tempore of the Senate, one each by House and Senate majority and minority leaders, the Banking Commissioner, and two appointed by the Governor.

All appointments must be made within 30 days of the effective date, with the first meeting scheduled within 60 days and chaired by members selected by the Speaker and President Pro Tempore.

Task force shall submit findings and recommendations to the joint standing committee on banking by January 1, 2012, and terminates upon submission of the report or January 1, 2012, whichever is later.