Substitute House Bill No. 7165 proposes significant revisions to Connecticut's commerce statutes, primarily aimed at enhancing economic development and support for local businesses. The bill introduces a new program for the sale of Connecticut brand merchandise and advertising space, with proceeds directed to the Tourism Fund, effective July 1, 2025. It expands the definition of "business organization" to include municipalities and various economic development entities while excluding certain tax-exempt organizations. Additionally, the bill modifies Section 31-53c to ensure that financial assistance for construction projects mandates prevailing wage payments and contributions to employee welfare funds, with penalties for non-compliance. It also clarifies that financial assistance for pollution remediation must be distinct from redevelopment contracts.

Moreover, the bill establishes a workforce incentive program to provide grants to employers hiring individuals with intellectual disabilities, broadening eligibility beyond nonprofits and adjusting grant amounts based on workforce composition. It repeals certain sections regarding financial assistance conditions, clarifying that "financial assistance" excludes tax credit programs. The bill also allows the DECD to convey state-owned property for cultural or historical purposes and authorizes financial assistance to the AdvanceCT Foundation, Inc. These changes are set to take effect on July 1, 2025, and are expected to have various fiscal impacts, including potential revenue changes for the state.

Statutes affected:
Raised Bill: 10-395b, 31-53c, 32-7v, 32-5a
CE Joint Favorable Substitute: 31-53c, 32-7v, 32-5a
File No. 519: 31-53c, 32-7v, 32-5a