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CT HB05302
Bill
Status
1/16/2013
Primary Sponsor
Commerce Committee
Click for details
AI Summary
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Requires the Office of Policy and Management to prepare a cost-benefit analysis for any bond act authorizing more than $15 million in grants or loans by the Department of Economic and Community Development or Connecticut Innovations, Incorporated.
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Cost-benefit analysis must include tax revenue projections estimating revenues from temporary and permanent jobs anticipated to be created by the bond authorization.
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State Bond Commission cannot authorize bonds for qualifying projects unless the cost-benefit analysis finds a positive economic impact for the state.
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Analysis must be provided to the State Bond Commission and Office of Fiscal Analysis prior to bond authorization.
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Effective July 1, 2013.
Legislative Description
An Act Requiring A Cost-benefit Analysis Of Proposed State-funded Economic Development Capital Investments.
Last Action
Favorable Change of Reference, Senate to Committee on Finance, Revenue and Bonding
4/2/2013