Substitute House Bill No. 7165 seeks to revise Connecticut's commerce statutes based on recommendations from the Department of Economic and Community Development (DECD). The bill introduces a new program for the sale of Connecticut brand merchandise and advertising space for local businesses, with proceeds directed to the Tourism Fund starting July 1, 2025. It also 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 existing statutes related to financial assistance for construction projects, establishing conditions for contractors, including the requirement to pay prevailing wages and penalties for non-compliance. Financial assistance for pollution remediation, demolition, or abatement is specifically limited to those activities.

Moreover, the bill establishes a workforce incentive program that provides grants to employers hiring individuals with intellectual disabilities, broadening eligibility beyond nonprofit organizations. It modifies grant amounts based on the percentage of employees with disabilities and introduces new conditions for businesses relocating operations. The bill also allows DECD to convey state-owned property for cultural or historical purposes and provides financial assistance to the AdvanceCT Foundation, Inc. The effective date for these changes is set for July 1, 2025, and the bill aims to generate potential revenue gains and losses for the state while enhancing economic development initiatives.

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