The proposed bill, General Assembly Proposed Bill No. 395, seeks to amend section 31-53 of the general statutes to clarify the applicability of the prevailing wage statute. The bill specifies that the provisions of this section will only apply to projects or portions of projects that are funded by public dollars. Consequently, any private dollars spent on a project or its portions will not be subject to the prevailing wage requirements outlined in this section.

The intent of this legislation is to encourage and maximize private investment in municipal economic development and affordable housing projects. By exempting privately funded projects from prevailing wage regulations, the bill aims to reduce financial burdens on developers and promote more robust investment in these critical areas.