Connecticut Seal

General Assembly

File No. 249

    February Session, 2018

House Bill No. 5397

House of Representatives, April 5, 2018

The Committee on Banking reported through REP. LESSER of the 100th Dist., Chairperson of the Committee on the part of the House, that the bill ought to pass.

AN ACT CONCERNING ECONOMIC DEVELOPMENT.

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

Section 1. (Effective from passage) (a) There is a task force established to study the economic development and welfare of the state. Such study shall include, but not be limited to, the ways in which the state may: (1) Encourage the growth and retention of businesses in the state that are unable to obtain financing under reasonable terms and conditions due to the contraction in liquidity in the banking system; (2) stimulate (A) the growth and retention of jobs, (B) the development of all geographic regions of the state, and (C) an increase in state and municipal tax revenue; and (3) address concerns with the availability of financing that has been discontinued subsequent to a merger, takeover or liquidation of a financial institution.

(b) The task force shall consist of the following members:

(1) Two appointed by the speaker of the House of Representatives;

(2) Two appointed by the president pro tempore of the Senate;

(3) One appointed by the majority leader of the House of Representatives;

(4) One appointed by the majority leader of the Senate;

(5) One appointed by the minority leader of the House of Representatives;

(6) One appointed by the minority leader of the Senate;

(7) The Banking Commissioner, or the commissioner's designee; and

(8) Two appointed by the Governor.

(c) Any member of the task force appointed under subdivision (1), (2), (3), (4), (5) or (6) of subsection (b) of this section may be a member of the General Assembly.

(d) All appointments to the task force shall be made not later than thirty days after the effective date of this section. Any vacancy shall be filled by the appointing authority.

(e) The speaker of the House of Representatives and the president pro tempore of the Senate shall select the chairpersons of the task force from among the members of the task force. Such chairpersons shall schedule the first meeting of the task force that shall be held not later than sixty days after the effective date of this section.

(f) The administrative staff of the joint standing committee of the General Assembly having cognizance of matters relating to banking shall serve as administrative staff of the task force.

(g) Not later than January 1, 2019, the task force shall submit a report on its findings and recommendations to the joint standing committee of the General Assembly having cognizance of matters relating to banking, in accordance with the provisions of section 11-4a of the general statutes. The task force shall terminate on the date that it submits such report or January 1, 2019, whichever is later.

This act shall take effect as follows and shall amend the following sections:

Section 1

from passage

New section

BA

Joint Favorable

 

The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.


OFA Fiscal Note

State Impact: None

Municipal Impact: None

Explanation

The bill establishes a task force to study the economic development and welfare of the state. The task force shall submit its findings and recommendations to the banking committee by January 1, 2019.

This bill has no fiscal impact as PA 17-236 prohibits transportation allowances for task force members.

The Out Years

State Impact: None

Municipal Impact: None

OLR Bill Analysis

HB 5397

AN ACT CONCERNING ECONOMIC DEVELOPMENT.

SUMMARY

The Office of Legislative Research does not analyze Special Acts.

COMMITTEE ACTION

Banking Committee

Joint Favorable

Yea

19

Nay

0

(03/20/2018)

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