This bill, raised by the General Assembly, authorizes the issuance of bonds by the State Bond Commission in order to provide assistance to certain minority-owned and women-owned small businesses. The bonds would be issued in one or more series and would not exceed a total of fifteen million dollars. The proceeds from the sale of the bonds would be used by the Department of Economic and Community Development to provide grants-in-aid to business and industrial development corporations that support minority-owned and women-owned small businesses serving underserved or minority communities. The corporations would use the grants to provide financing and management assistance, education and training, and to foster economic development and growth in these communities. The bill also establishes eligibility requirements for receiving the grants and sets a limit of five million dollars in total grants for each applicant or corporation. The bonds issued under this bill would be general obligations of the state and the full faith and credit of the state of Connecticut would be pledged for their payment. The bill also includes provisions for the maturity and payment of the bonds. This bill would take effect on July 1, 2023.