Bill Text: CT HB05101 | 2012 | General Assembly | Comm Sub

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Bill Title: An Act Concerning The Steel Point Taxing District In Bridgeport.

Spectrum: Moderate Partisan Bill (Democrat 4-1)

Status: (Introduced - Dead) 2012-04-10 - Referred by House to Committee on Finance, Revenue and Bonding [HB05101 Detail]

Download: Connecticut-2012-HB05101-Comm_Sub.html

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General Assembly		Committee Bill No. 5101
February Session, 2012		LCO No. 1734
		*_____HB05101CE____031612____*
Referred to Committee on Commerce
Introduced by:
(CE)

AN ACT CONCERNING THE STEEL POINT TAXING DISTRICT IN BRIDGEPORT.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 32-462b of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

In accordance with the provisions of section 32-462, during the period commencing January 1, 2010, and ending June 30, [2012] 2015, any agency, as defined in section 32-462, may provide financial assistance from existing programs to the Steel Point project for the purposes of development and improvements to property in the city of Bridgeport, in said time period, in an aggregate amount not to exceed forty million dollars.

Sec. 2. Subsection (o) of section 2 of public act 05-289 is repealed and the following is substituted in lieu thereof (Effective from passage):

(o) At the option of the city of Bridgeport by vote of the city council of the city of Bridgeport, the district shall be merged into the city of Bridgeport if no bonds are issued by the district not later than [four] ten years after [the effective date of this section] July 1, 2005, or after the bonds authorized by this section are no longer outstanding and any property which is owned by the district shall be distributed to the city of Bridgeport.

This act shall take effect as follows and shall amend the following sections:
Section 1	from passage	32-462b
Sec. 2	from passage	PA 05-289, Sec. 2(o)

CE

Joint Favorable