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CT SB01502
Bill
AI Summary
- Establishes the Connecticut Port Authority as a quasi-public agency with a 15-member board of directors, authorized to issue bonds up to $50 million secured by special capital reserve funds, to coordinate development of the state's ports and harbors and assume jurisdiction from the Department of Transportation effective July 1, 2016
- Modifies corporation business tax provisions effective January 1, 2016, including combined unitary tax reporting requirements, a 20% surcharge on companies with gross income of $100 million or more through January 1, 2018, and new rules for determining combined group membership on a water's-edge, affiliated group, or worldwide basis
- Expands minority business enterprise and small contractor set-aside requirements to municipal public works contracts and quasi-public agency projects, requiring at least 25% of contract value be set aside for small contractors with 25% of that reserved for minority business enterprises, and broadens nondiscrimination contract provisions enforced by the Commission on Human Rights and Opportunities
- Reduces General Fund appropriations by $14 million in FY2016 and $27 million in FY2017, including $1.5 million annual Medicaid reductions and $13 million in salary adjustment reserves for FY2017, with $12.5 million in targeted savings across dozens of state agencies in each fiscal year
- Enacts numerous education provisions including establishing a Planning Commission for Education, modifying bilingual education program timelines and extensions, adjusting interdistrict magnet school funding formulas, requiring audits of private special education providers, and revising the school accountability index used to classify and rank school performance
Legislative Description
An Act Implementing Provisions Of The State Budget For The Biennium Ending June 30, 2017, Concerning General Government, Education, Health And Human Services And Bonds Of The State.
Last Action
Transmitted to the Secretary of State
7/20/2015
Full Bill Text
No bill text available