CT HB05101

Extends the deadline for financial assistance to the Steel Point project in Bridgeport from June 30, 2012 to June 30, 2015, allowing state agencies to provide up to $40 million in development funding.

Changes the bond issuance deadline for the Steel Point taxing district from four years to ten years after July 1, 2005 before the district can be merged into the city of Bridgeport.

Permits the city of Bridgeport to merge the Steel Point taxing district into the city by council vote if no bonds are issued within the extended timeframe or after outstanding bonds are repaid, with district property transferring to the city.

Both amendments take effect upon passage of the bill.