Connecticut Seal

House Bill No. 5438

Public Act No. 18-122

AN ACT CONCERNING MINOR AND TECHNICAL CHANGES TO COMMERCE-RELATED STATUTES.

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

Section 1. Subsection (c) of section 2-90c of the 2018 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(c) As part of each audit the Auditors of Public Accounts perform of the Department of Economic and Community Development, said auditors shall evaluate the annual reports submitted by the Commissioner of Economic and Community Development since the last audit performed of the department by said auditors and the analyses required under subdivisions [(3)] (2) and [(5)] (4) of subsection (a) of section 32-1m, as amended by this act, and included in such annual reports. Such evaluation shall include, but need not be limited to:

(1) A determination of whether evidence is available to support the accuracy of the data presented in such annual reports;

(2) An evaluation of management practices and operations with respect to the ease or difficulty for taxpayers to comply with the requirements of the incentive programs;

(3) Recommendations for improving the administrative efficiency or effectiveness of the incentive programs; and

(4) An evaluation of whether such annual reports satisfy the reporting requirements under subsection (a) of section 32-1m, as amended by this act.

Sec. 2. Subsection (c) of section 32-1m of the 2018 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(c) On or before March 1, 2018, and annually thereafter, the joint standing committees of the General Assembly having cognizance of matters relating to appropriations and the budgets of state agencies, finance, revenue and bonding and commerce shall hold, individually or jointly, one or more public hearings on the analyses included in the annual report under subdivisions [(3)] (2) and [(5)] (4) of subsection (a) of this section.

Sec. 3. Subsection (b) of section 32-7g of the 2018 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(b) The Small Business Express program shall consist of various components, including (1) a revolving loan fund, as described in subsection (d) of this section, to support small business growth, (2) a job creation incentive component, as described in subsection (e) of this section, to support hiring, (3) a matching grant component, as described in subsection (f) of this section, to provide capital to small businesses that can match the state grant amount, (4) not more than two minority business revolving loan funds, as described in subsection (g) of this section, to support the growth of minority-owned businesses, and (5) a component established in consultation with representatives [with] from Connecticut-based banks and a banking industry association, as described in subsection (h) of this section. The Commissioner of Economic and Community Development shall work with eligible small business applicants to provide a package of assistance using the financial assistance provided by the Small Business Express program and may refer small business applicants to the Subsidized Training and Employment program established pursuant to section 31-3pp and any other appropriate state program. Notwithstanding the provisions of section 32-5a regarding relocation limits, the department may require, as a condition of receiving financial assistance pursuant to this section, that a small business receiving such assistance shall not relocate, as defined in section 32-5a, for five years after receiving such assistance or during the term of the loan, whichever is longer. All other conditions and penalties imposed pursuant to section 32-5a shall continue to apply to such small business.

Sec. 4. Subsection (c) of section 32-39l of the 2018 supplement to the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(c) Any entity may submit an application for innovation place designation to the CTNext board. In addition to the initial round of applications, the CTNext board may accept such applications for consideration, on a schedule and in accordance with deadlines prescribed by the board. Such applications shall be submitted on a form prescribed by the board and shall contain sufficient information to establish that the proposed innovation place is suitable for the purposes set forth in section 32-39k.

(1) Such application shall include: (A) Information concerning the proposed geographical boundaries of the proposed innovation place, including, but not limited to, a map indicating the boundaries of the geographic areas within the municipality that make up the proposed innovation place; (B) information concerning at least two anchor institutions located within the geographical boundaries of the proposed innovation place and how such anchor institutions have agreed to participate in the development of and activities within the proposed innovation place; (C) a summary of existing and proposed transportation-related infrastructure within and around the geographical areas within the municipality that make up the proposed innovation place; (D) a summary of existing and proposed businesses, recreational facilities, public parks and any other public or private gathering spaces located within the geographical areas within the municipality that make up the proposed innovation place; (E) information concerning the walkability of the geographical areas within the municipality that make up the proposed innovation place; (F) a master plan for the development of the proposed innovation place, including a plan for connecting the geographic areas within the municipality that make up the proposed innovation place to public transit via rail or bus, a plan for leveraging private investment and a proposed budget and timeline for use of any moneys granted by the CTNext board. Such budget shall indicate priority for the expenditure of grant funds in the event that moneys granted are insufficient to cover the costs of the entire proposed budget; (G) a list of municipal and state legislative action that may be required for the execution of such master plan; (H) a letter of support from the chief elected official of the municipality where the innovation place is proposed that shall include a statement that the legislative body of such municipality has, by majority vote, indicated its support for the proposed innovation place and for any municipal legislative action recommended in the master plan, provided a chief elected official may only submit a letter of support for one proposed innovation place located within the municipality; (I) letters of support from private investors; (J) information concerning consistency with the state plan of conservation and development adopted pursuant to chapter 297; and (K) information concerning the capability of the applicant and other entities partnering with the applicant to implement and administer the master plan and how such partners will be involved in the implementation of such plan.

(2) A master plan may include, but [shall] need not be limited to, (A) plans for: (i) Attracting and directing support to start-up and growth stage businesses; (ii) development, in collaboration with private partners, of a business incubator, coworking space, business accelerator or public meeting space; (iii) events and community building; (iv) marketing and outreach; (v) open space improvement; (vi) housing development; (vii) improvement of technology infrastructure, including, but not limited to, broadband improvement; (viii) bicycle paths; and (ix) attracting anchor institutions, and (B) community letters of support from persons or entities other than the applicant.

Approved June 7, 2018