PA 11-123—HB 6412
Planning and Development Committee
AN ACT CONCERNING THE SMALL TOWN ECONOMIC ASSISTANCE PROGRAM
SUMMARY: This act makes groups of municipalities eligible for Small Town Economic Assistance Program (STEAP) grants, as long as each municipality that is a member of the group is otherwise eligible for the grants. STEAP provides economic assistance to municipalities that do not qualify for the Urban Action grant program, which is meant mainly for cities and economically distressed towns. By law, distressed municipalities or public investment communities eligible for both programs can opt to participate in STEAP by following certain procedures. The act also makes such municipalities eligible to participate in STEAP as members of a group by following the same procedures.
The law caps the total STEAP grant amount a municipality can receive each fiscal year at $500,000. The act extends this cap to each municipality in the group and specifies that any municipality that receives a grant as part of a group is still eligible to receive STEAP grants equal to the difference between its proportionate share of the group grant and the $500,000 cap.
EFFECTIVE DATE: Upon passage
OLR Tracking: RP: JKL: PF: df/ts