On May 23, CT LEG enacted bill concerning Invest CT Fund Program.
CT LEG enacted HB 5300 to create an act concerning Invest CT Fund Program (ICFP).
Amends CT INS 698-38a-88a to allow certain businesses that do not have their principal business operations in Connecticut to be eligible businesses under the ICFP.
Bill Provisions
Authorizes the Commissioner of Economic and Community Development to consider as eligible certain businesses that do not have their principal business operations in CT.
Commissioner may approve a request if it determines would significantly advance the objectives of ICFP, provided the applicant complies with all applicable requirements.
This authorization shall be in effect from Oct. 1, 2024, to Sep. 30, 2026, inclusive.
The red line of the modifications to the text of the Act begin on page 5 of the bill.
Legislative History
On Feb. 28, 2024, bill introduced in the House; on Apr. 29, 2024, bill passed in House.
On May 1, 2024, bill transmitted to Senate; on May 7, 2024, bill passed in Senate.
On May 14, 2024, bill became Public Act 24-33; on May 21, 2024, governor signed bill.
Effectiveness
Act becomes effective Oct. 24, 2024.
Regulators
CT LEG
Entity Types
Corp; Ins
Reference
Act 24-33, Bill HB05300, 5/21/2024; Citation: CT INS 698-38a-88a;
