CT SB00304

Increases the threshold for tax credits under a single investment from $20 million to $27 million before requiring submission to the joint standing committee on finance, revenue and bonding for legislative approval.

Requires the Commissioner of Economic and Community Development to submit tax credit projects exceeding $27 million to the legislature's finance committee, which has 30 days to convene and recommend approval or disapproval.

Raises the financial assistance threshold for general business projects from $10 million to $16 million per two-year period before requiring specific authorization by an act of the General Assembly.

Increases the financial assistance threshold for biotechnology business projects from $20 million to $27 million per two-year period before requiring specific General Assembly authorization.

Takes effect July 1, 2016.