The bill, identified as Substitute House Bill No. 6661 with File No. 310, mandates that any state agency authorized to award financial assistance, including the Commissioner of Economic and Community Development, must include specific remedies in the terms and conditions of financial assistance agreements. These remedies are to be applied in cases where the recipient willfully fails to comply with any applicable state or federal law, regulation, rule, or executive order, including labor laws. The potential remedies that may be included in such agreements are not limited to, but may consist of liquidated damages and the repayment of any financial assistance provided.

The bill defines "financial assistance" in accordance with section 32-462 of the general statutes, which includes grants, loans, loan guarantees, contracts of insurance, investments, or combinations thereof, funded through state bonds or obligations. The bill is effective upon passage and does not have any fiscal impact on the state or municipal budgets, as the Department of Economic and Community Development (DECD) and other state agencies can implement these provisions without the need for additional resources. The bill was reported favorably by the Commerce Committee with a vote of 16 to 8 on March 14, 2023.