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 repeals and replaces Section 31-53c, establishing new conditions for financial assistance to business organizations, including compliance with prevailing wage requirements for construction projects and penalties for non-compliance.

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 also exempts certain nonprofit organizations from prevailing wage requirements for large projects and aligns tax credit programs with nonrelocation agreement requirements. The DECD is granted expanded authority to convey state-owned property for cultural or historical purposes, ensuring local consultation in the process. All changes are set to take effect on July 1, 2025, reflecting a comprehensive approach to fostering economic growth and inclusivity in the workforce.

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