Bill Text: CT SB00422 | 2014 | General Assembly | Introduced

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Bill Title: An Act Concerning Knowledge Center Enterprise Zones.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2014-03-07 - Public Hearing 03/11 [SB00422 Detail]

Download: Connecticut-2014-SB00422-Introduced.html

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General Assembly		Raised Bill No. 422
February Session, 2014		LCO No. 2298
		*02298_______CE_*
Referred to Committee on COMMERCE
Introduced by:
(CE)

AN ACT CONCERNING KNOWLEDGE CENTER ENTERPRISE ZONES.

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

Section 1. (NEW) (Effective October 1, 2014) (a) Notwithstanding the provisions of section 32-70 of the general statutes, the Commissioner of Economic and Community Development may establish not more than ten knowledge center enterprise zones surrounding any college, university or other institution of higher learning in the state upon receipt from such college, university or institution of a proposal recommending the establishment of such a zone, provided: (1) The commissioner determines that the economic development benefits of establishing such a knowledge center enterprise zone outweigh the anticipated costs to the state and the affected municipalities; and (2) such proposal complies with the state plan of conservation and development adopted pursuant to chapter 297 of the general statutes.

(b) Any proposal submitted by a college, university or other institution of higher learning pursuant to subsection (a) of this section shall include, but not be limited to: (1) The geographic scope of the proposed knowledge center enterprise zone, including designation of all census blocks that such institution proposes incorporating into such zone, provided no zone shall extend beyond a two-mile radius of such college, university or institution, (2) the nature of business and industry that will be developed and how such business and industry align with such college, university or institution's mission, (3) how such business and industry will collaborate with such college, university or institution to create jobs and the anticipated number of jobs created, (4) such college, university or institution's experience with business collaboration or plan for such collaboration, (5) any other economic and community developments anticipated from the establishment of such zone, and (6) the anticipated lost revenue to the state and municipalities as a result of establishing such zone.

(c) The commissioner may modify the geographic scope of any proposed knowledge center enterprise zone to improve the balance between the anticipated economic benefit and the cost to the state and affected municipalities.

(d) Businesses located within a knowledge center enterprise zone shall be entitled to the same benefits, subject to the same conditions, under the general statutes for which businesses located in an enterprise zone qualify.

(e) The commissioner shall adopt regulations in accordance with the provisions of chapter 54 of the general statutes to implement the provisions of this section. Such regulations shall include, but not be limited to: (1) A review and approval process for proposals submitted pursuant to subsection (a) of this section, (2) goals and performance standards for knowledge center enterprise zones, and (3) procedures to assess the performance of knowledge center enterprise zones.

(f) Not less than ten years from the original date of approval of a knowledge center enterprise zone, the commissioner shall assess the performance of such zone. The commissioner may remove the designation of such knowledge center enterprise zone if such zone fails to meet the goals and performance standards set forth in the regulations adopted pursuant to subsection (e) of this section.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2014	New section

Statement of Purpose:

To establish a knowledge center enterprise zone program to encourage development around the state's institutions of higher learning.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]