Loading chat...
CT HB06428
Bill
Status
2/18/2011
Primary Sponsor
Labor and Public Employees Committee
Click for details
AI Summary
-
Effective October 1, 2011, state agencies (Department of Economic and Community Development, Connecticut Development Authority, Connecticut Innovations, Inc.) cannot provide financial assistance to businesses with 100 or more employees unless they agree not to lay off, reassign, or transfer 50 or more employees out of state during the assistance period.
-
Financial assistance includes loans, grants, guarantees, and tax abatements.
-
Businesses violating this restriction must repay the full amount of financial assistance received plus a 5 percent penalty to the providing agency.
Legislative Description
An Act Concerning State Financial Assistance And Employers That Have Transferred Jobs Out Of The State.
Last Action
Public Hearing 03/01
2/24/2011