Substitute Senate Bill No. 1179 establishes the Connecticut Community Makerspace Initiative Program, which aims to provide financial assistance for the establishment or expansion of makerspaces throughout the state. Effective July 1, 2025, the program will be administered by the Commissioner of Economic and Community Development, offering grants, loans, and other financing options to eligible entities, with a total funding cap of five million dollars. Individual entities can receive up to two hundred fifty thousand dollars per fiscal year, and the commissioner is responsible for creating eligibility criteria and an application process. The bill also amends section 32-235 of the general statutes to allocate one million dollars for the makerspace program and allows up to ten percent of the funds to be used for administrative costs.

In addition to the makerspace initiative, the bill outlines various financial allocations aimed at enhancing economic development and entrepreneurship in Connecticut. It mandates the deposit of two million dollars annually into the CTNext Fund for higher education entrepreneurship grants from fiscal years 2019 to 2021 and allocates funds for several programs, including the Technology Talent Advisory Committee and workforce pipeline initiatives. The bill also includes provisions for transferring twenty million dollars to Connecticut Innovations, Incorporated, for a proof of concept fund and a venture capital fund program, as well as eight million dollars for the University of Connecticut to establish a center for sustainable aviation. Overall, the bill reflects a comprehensive approach to fostering economic growth and innovation in the state.

Statutes affected:
Committee Bill: 32-7o