PA 15-170—HB 6853
Planning and Development Committee
Finance, Revenue and Bonding Committee
AN ACT CONCERNING GRANTS AVAILABLE THROUGH THE INTERTOWN CAPITAL EQUIPMENT PURCHASE INCENTIVE PROGRAM
SUMMARY: This act increases the maximum grant the Office of Policy and Management can provide under the Intertown Capital Equipment Purchase Incentive Program, which helps municipalities jointly buy or lease needed vehicles or capital equipment. It increases the maximum grant from the lesser of $250,000 or 50% of the total acquisition cost, to the lesser of $375,000 or 80% of the cost.
By law, the grants may be used to buy or lease (1) a maintenance vehicle, pickup truck, tractor, truck tractor, utility trailer, or similar vehicle or (2) any other equipment, including data processing equipment with a unit price under $1,000, that has an expected remaining useful life of at least five years from the purchase or lease date. The municipality must use the vehicle or equipment to perform or deliver a required government function or service.
EFFECTIVE DATE: October 1, 2015
OLR Tracking: RP; DC; TA; BS