CT HB05108

Expands the Community Economic Development Program service area from targeted investment communities to state-wide, while maintaining focus on low and moderate income individuals.

Modifies eligibility criteria to include individuals who do not qualify for traditional financing, not solely those with low and moderate income.

Removes the requirement that at least 70 percent of financial assistance be used in targeted investment communities.

Allows the entity to include administrative expenses up to 10 percent of financial assistance provided.

Effective July 1, 2012, amending Connecticut General Statutes sections 8-240k and 8-240l.