Connecticut § 7-576a Designation as tier I municipality. Application for designation as tier I municipality.

Connecticut Statutes

§ 7-576a — Designation as tier I municipality. Application for designation as tier I municipality.

Connecticut § 7-576a

Title 7Municipalities

Ch. 117Municipal Deficit Financing

This text of Connecticut § 7-576a (Designation as tier I municipality. Application for designation as tier I municipality.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 7-576a (2026).

Text

The Municipal Finance Advisory Commission may designate any municipality referred to said commission pursuant to subsection (d) of section 7-395 as a tier I municipality. The chief elected official of any municipality that does not meet the conditions identified under subsection (d) of section 7-395 may apply to the Municipal Finance Advisory Commission for designation as a tier I municipality, provided such official (1) expects that such municipality will meet one or more such conditions in the following twenty-four month period, and (2) submits a report to the Municipal Finance Advisory Commission, in a form and manner prescribed by the commission, that confirms that such condition or conditions will be met in such period. Each decision to designate a municipality as a tier I municipalit

Free access — add to your briefcase to read the full text and ask questions with AI

The Municipal Finance Advisory Commission may designate any municipality referred to said commission pursuant to subsection (d) of section 7-395 as a tier I municipality. The chief elected official of any municipality that does not meet the conditions identified under subsection (d) of section 7-395 may apply to the Municipal Finance Advisory Commission for designation as a tier I municipality, provided such official (1) expects that such municipality will meet one or more such conditions in the following twenty-four month period, and (2) submits a report to the Municipal Finance Advisory Commission, in a form and manner prescribed by the commission, that confirms that such condition or conditions will be met in such period. Each decision to designate a municipality as a tier I municipality pursuant to this section shall be based on an evaluation of such municipality's financial condition and financial practices. In addition to the requirements of section 7-394b, each municipality designated as a tier I municipality shall prepare and present a five-year financial plan to the Municipal Finance Advisory Commission for its review and approval.

Legislative History

(June Sp. Sess. P.A. 17-2, S. 360; P.A. 22-35, S. 7; P.A. 24-132, S. 13.) History: June Sp. Sess. P.A. 17-2 effective October 31, 2017; P.A. 22-35 deleted former Subsec. (a) re application by chief elected official to secretary for designation as tier I municipality and added new Subsec. (a) re designation as tier I municipality after referral pursuant to Sec. 7-395 or application by chief elected official of municipality, and amended Subsec. (b) by substituting “designated” for “which has requested designation” and substituting “five-year” for “three-year” re financial plan; P.A. 24-132 amended former Subsec. (a) to delete Subsec. designator, authorize Municipal Finance Advisory Commission to designate municipality referred to commission as tier I municipality, add provisions re basis for decision to designate municipality as tier I municipality and preparation of 5-year financial plan by such municipality, and deleted former Subsec. (b) re referral of tier I municipality to Municipal Finance Advisory Commission by secretary and preparation of 5-year financial plan by such municipality, effective July 1, 2024.