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 statute.

The intent of this amendment is to encourage and maximize private investment in municipal economic development and affordable housing projects. By exempting privately funded projects from the prevailing wage statute, the bill aims to create a more favorable environment for private sector participation in these initiatives.