Bill Text: CT HB05500 | 2012 | General Assembly | Chaptered
Bill Title: An Act Concerning An Adjustment To Certain Dates Relating To The Financing Of Steel Point In Bridgeport.
Spectrum: Bipartisan Bill
Status: (Passed) 2012-06-15 - Signed by the Governor [HB05500 Detail]
Download: Connecticut-2012-HB05500-Chaptered.html
Substitute House Bill No. 5500
AN ACT CONCERNING AN ADJUSTMENT TO CERTAIN DATES RELATING TO THE FINANCING OF STEEL POINT 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 Section 32-462b of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):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 Subsection (o) of section 2 of public act 05-289 is repealed and the following is substituted in lieu thereof (Effective from passage):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.