OLR Bill Analysis

SB 227

AN ACT CONCERNING CORRECTIONS TO CERTAIN CENSUS DESIGNATIONS.

SUMMARY:

This bill reconfigures Bristol's portion of the multi-town Bioscience Enterprise Corridor Zone, which consists of statutorily designated census tracts, blocks, and groups in Hartford, Farmington, New Britain, Bristol, and Plainville. It does so by removing two residential tracts and designating two commercial and industrial ones instead. Consequently, bioscience businesses in these commercial and industrial tracts would qualify for the zone's incentives—property tax exemptions and corporation business tax credits for improving property and creating jobs.

EFFECTIVE DATE: Upon passage

COMMITTEE ACTION

Commerce Committee

Joint Favorable