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    Construction NewsBRIEFS! 3-9-2012

    The requirements for posting bonds and other surety to complete public improvements on approved site plans and subdivisions would change under House Bill 5320 before the Planning and Development Committee.

    Solid waste, including demolition debris, generated in this state and exported to any other state for processing would be assessed at $1.50 per ton, a portion of which would be paid by a solid waste facility operator, under Senate Bill 265 before the Environment Committee.

    Converting what is now a liability—nearly $2.5 billion in tax credits state businesses have earned—into a powerful development asset powering construction of as much as 10 million square feet in new advanced manufacturing plants, research facilities, and other qualifying projects, was reiterated by UConn economists in The Connecticut Economic Outlook: February 2012. It would “generate tens of thousands of new jobs and anchor major companies in the state for a generation. The final payoff is that this approach is entirely self-financing: it generates so much net new revenue for the State that it repays fully the redemption of the tax credits and delivers a revenue bonus.”

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