Substitute Senate Bill No. 1179 establishes the Connecticut Community Makerspace Initiative Program, which aims to provide financial assistance for the creation and expansion of makerspaces throughout the state. Effective July 1, 2025, the program will be administered by the Commissioner of Economic and Community Development, who will offer grants, loans, and other financing options to eligible entities, covering various costs associated with makerspace development, excluding personnel costs. The total funding for the program is capped at five million dollars, with individual entities eligible for up to two hundred fifty thousand dollars per fiscal year. The bill also amends section 32-235 of the general statutes to allocate one million dollars specifically for this makerspace initiative, while allowing up to ten percent of the allocated funds to be used for administrative costs.

In addition to the makerspace program, 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 initiatives, including the Technology Talent Advisory Committee and workforce pipeline programs. 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 commitment to fostering innovation and economic growth in the state, with the Governor's approval dated July 1, 2025.

Statutes affected:
Committee Bill: 32-7o