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Substitute Senate Bill No. 303

Special Act No. 16-1

AN ACT CONCERNING AN ENTREPRENEUR LEARNER'S PERMIT PROGRAM.

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

Section 1. (Effective July 1, 2016) (a) There is established an Entrepreneur Learner's Permit pilot program that shall be administered by Connecticut Innovations, Incorporated during the fiscal years ending June 30, 2017, and June 30, 2018. The purpose of the program shall be to encourage and assist first-time entrepreneurs in starting new information services, biotechnology and green technology businesses by providing reimbursements to such entrepreneurs for any state filing, permitting or licensing fees associated with the formation of such a business in the state. For purposes of this section, "the corporation" means Connecticut Innovations, Incorporated.

(b) Applicants for participation in the Entrepreneur Learner's Permit pilot program shall apply to the corporation, in a form and manner prescribed by the corporation, prior to the formation of the business for which the entrepreneur seeks reimbursement of such fees. The corporation shall establish criteria for the review and approval of applications, provided it (1) shall give priority to female and minority applicants, and (2) shall not approve any application by a person who will not be a first-time business owner. Reimbursements under this section shall be provided in the manner determined by the corporation.

(c) The aggregate amount of all reimbursements provided by the corporation pursuant to this section shall not exceed five hundred thousand dollars in either of the fiscal year ending June 30, 2017, or June 30, 2018.

(d) On or before February 1, 2018, the corporation shall conduct a review of the cumulative effectiveness of the Entrepreneur Learner's Permit pilot program. Such review shall include, but not be limited to, the number and type of Connecticut businesses that were formed in connection with the pilot program, the current status of each business formed in connection with the pilot program, the number of employees employed by each such business, the economic impact to the state from the pilot program, the satisfaction of participants in the pilot program and a recommendation as to whether the program should be continued beyond June 30, 2018. Such review shall be submitted to the joint standing committee of the General Assembly having cognizance of matters relating to commerce, in accordance with the provisions of section 11-4a of the general statutes.

Approved May 6, 2016