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CT HB06829
Bill
Status
2/19/2015
Primary Sponsor
Commerce Committee
Click for details
AI Summary
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Increases the threshold for tax credits requiring joint standing committee and legislative approval from $20 million to $27 million for a single investment under section 32-9t(q).
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Increases the threshold for financial assistance awards requiring General Assembly authorization from $10 million to $16 million during any two-year period under section 32-462(b).
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Increases the threshold for biotechnology business project financial assistance requiring General Assembly authorization from $20 million to $27 million during any two-year period under section 32-462(c).
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Maintains the 30-day review period for the joint standing committee on finance, revenue and bonding to recommend approval or disapproval of submissions, with deemed approval if no action is taken.
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All changes become effective July 1, 2015.
Legislative Description
An Act Increasing The Threshold For Legislative Approval Of Financial Assistance Awarded By The Department Of Economic And Community Development And Connecticut Innovations, Incorporated.
Last Action
Favorable Change of Reference, Senate to Committee on Finance, Revenue and Bonding
3/16/2015