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Substitute House Bill No. 6396

Public Act No. 03-26

AN ACT CONCERNING OBSOLETE DEFENSE DIVERSIFICATION REPORTS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 32-1h of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2003):

Not later than November first, annually, the Commissioner of Economic and Community Development shall submit a report to the Auditors of Public Accounts and the joint standing committees of the General Assembly having cognizance of matters relating to the Department of Economic and Community Development, appropriations and capital bonding, which shall include the following information with respect to new and outstanding financial assistance provided by the commissioner for each financial assistance program the commissioner administers: (1) A list of the names, addresses and locations of all recipients of such assistance, (2) for each such recipient: (A) The business activities, (B) the standard industrial classification manual codes, (C) the gross revenues during the recipient's most recent fiscal year, (D) the number of employees at the time of application, (E) whether the recipient is a minority or woman-owned business, (F) a summary of the terms and conditions for the assistance, including the type and amount of state financial assistance, job creation or retention requirements, and anticipated wage rates, and (G) the amount of investments from private and other nonstate sources that have been leveraged by the assistance, (3) the economic benefit criteria used in determining which applications have been approved or disapproved, and (4) for each recipient of assistance on or after July 1, 1991, a comparison between the number of jobs to be created, the number of jobs to be retained and the average wage rates for each such category of jobs, as projected in the recipient's application, versus the actual number of jobs created, the actual number of jobs retained and the average wage rates for each such category. The report shall also indicate the actual number of full-time jobs and the actual number of part-time jobs in each such category and the benefit levels for each such subcategory. The report shall include a summary of the activities of the department, including all activities to assist small businesses and minority business enterprises, as defined in section 4a-60g, and recommendations for legislation to promote the purposes of the department. [, a list of all federal programs of financial assistance for defense conversion projects and other projects consistent with a defense conversion strategy and a list of all applications for such financial assistance filed by the Secretary of the Office of Policy and Management in consultation with the Commissioner of Economic and Community Development, during the preceding state fiscal year, including the status of each such application. ]

Approved May 12, 2003