The proposed legislation, General Assembly Raised Bill No. 5538, mandates the Commissioners of Economic and Community Development and Revenue Services to conduct a comprehensive study of the finance policies in Connecticut and neighboring states. The objective of this study is to identify potential programmatic and legislative changes that could enhance the state's economic competitiveness. The commissioners are authorized to consult with various stakeholders, including individuals, businesses, and state agencies, to gather necessary insights for the study.

The bill stipulates that the findings and recommendations from this study must be compiled into a report and submitted to the relevant joint standing committees of the General Assembly by January 1, 2027. The new legal language introduced in this bill includes the establishment of a new section that outlines the study's requirements and objectives, while there are no deletions from existing law. The act is set to take effect upon passage.