General Assembly Raised Bill No. 7165 proposes significant revisions to the commerce statutes as recommended by the Department of Economic and Community Development. A key feature of the bill is the establishment of a new "Tourism Fund," which will be a separate, nonlapsing fund containing moneys required by law. The Department will be empowered to create and manage a program for selling Connecticut brand merchandise and advertising space for local businesses, with all proceeds directed to the Tourism Fund. The bill also modifies the definitions and conditions surrounding financial assistance for business organizations involved in construction projects, specifically excluding certain tax-exempt organizations from the definition of "business organization." It mandates that financial assistance for remediation, demolition, or pollution abatement must be used solely for those purposes and kept separate from redevelopment contracts.

Furthermore, the bill introduces a new incentive program providing grants to employers who hire individuals with intellectual disabilities, ensuring these employees are compensated at or above the minimum wage in competitive integrated employment. It replaces references to "nonprofit organizations" with "employers" and adjusts eligibility criteria to allow employers with at least five percent of their workforce consisting of individuals with intellectual disabilities to apply for grants. The maximum grant amounts are set at $25,000 for employers with five to twenty percent of their workforce being individuals with intellectual disabilities and $75,000 for those with more than twenty to thirty percent. The bill also clarifies that "financial assistance" does not include tax credit programs and expands acceptable uses for state-owned real property, while allowing support for the AdvanceCT Foundation, Inc. These changes are set to take effect on July 1, 2025.

Statutes affected:
Raised Bill: 10-395b, 31-53c, 32-7v, 32-5a