CT SB00726

Commissioner of Economic and Community Development shall conduct a study examining the feasibility of establishing a renaissance district program providing tax benefits to businesses in downtown areas with multiple arts and cultural sites.

Study must be completed and reported to the joint standing committee on commerce by January 1, 2016.

Report shall include overview of current tax benefits and economic development programs, explanation of special taxing districts, potential state costs and economic benefits, and a recommendation on whether a renaissance district program is needed.

If the commissioner determines a need exists, the report shall include legislative recommendations to implement such a program.

Act takes effect October 1, 2015.