The proposed bill, General Assembly Proposed Bill No. 6738, aims to establish a forgivable loan program specifically designed for individuals who start a business in the trades. The program will provide financial assistance in the form of loans that can be used for purchasing tools, equipment, and other related expenses necessary for establishing a trades business. To qualify for this program, individuals must have graduated from a Connecticut high school or trade school and must operate their business continuously in Connecticut for a minimum of ten years.

The bill seeks to amend the general statutes to create this new loan program, thereby encouraging individuals in the trades to establish and sustain their businesses within the state. The initiative is intended to support economic growth and development in the trades sector by providing financial resources to new entrepreneurs.