Substitute for S.B. No. 1
Session Year 2016


AN ACT CONCERNING INNOVATION, ENTREPRENEURSHIP AND CONNECTICUT'S ECONOMIC FUTURE.

To (1) establish a new quasi-public entity to be known as ImpaCT and authorize bonding for such entity; (2) establish an innovation district program, give priority for certain small business express loans to businesses in such districts and authorize bonding for certain uses within such districts; (3) authorize bonding for the provision of evening programs in skilled trades provided by technical high schools; (4) establish an optional tax assessment method for properties within an innovation district; (5) modify certain provisions regarding Connecticut Innovations, Incorporated and transfer certain duties from such corporation to ImpaCT; (6) require such corporation to involve private partners in its venture and investment agreements; (7) require a performance audit of such corporation; (8) require the Commissioner of Economic and Community Development to develop a mentorship network; (9) authorize bonding for The University of Connecticut for hiring staff for its entrepreneurship program; (10) require that moneys from the state-wide tourism account be used for innovation and entrepreneurship marketing; (11) extend the angel investor tax credit for three years and to make such credit transferable; (12) establish a venture loan program and authorize bonding for such program; (13) allow for grants to business accelerators and authorize bonding for such program; (14) allow for the establishment of a knowledge center enterprise zone; (15) authorize bonding for the "Dream It. Do It." Initiative; (16) authorize bonding for a program to add job seekers to the manufacturing talent pipeline; and (17) to authorize bonding for capital improvements to The University of Connecticut Waterbury Downtown Campus.