CT HB05397

Establishes a task force to study economic development and state welfare, focusing on financing challenges for businesses unable to obtain loans due to banking system contraction and financial institution mergers or liquidations.

Task force composition includes 11 members: two appointed by the House Speaker, two by the Senate President Pro Tempore, one each by House and Senate majority leaders, one each by House and Senate minority leaders, the Banking Commissioner, and two appointed by the Governor.

Appointments must be made within 30 days of the effective date, with the House Speaker and Senate President Pro Tempore selecting co-chairs who must convene the first meeting within 60 days.

Task force shall submit findings and recommendations to the joint standing committee on banking no later than January 1, 2019, and terminates upon report submission or January 1, 2019, whichever is later.

Administrative support provided by the General Assembly's joint standing committee on banking.