CT HB05330

Establishes a Connecticut Economic Future Council within the Department of Economic and Community Development with 13 members: four appointed by the Governor and nine appointed by legislative leaders, including representatives of state employee bargaining agents.

Council must develop a strategic plan by October 1, 2010 for reallocating authorized state bonding and pension funds to create job creation grants up to $20,000 per job for Connecticut businesses and municipalities.

Creates the Connecticut Economic Future Fund account as a separate, nonlapsing account within the General Fund to hold grant money for job creation programs.

Transfers $75,000,000 from the State Employees Retirement Fund to the Connecticut Economic Future Fund for fiscal year 2011 to provide grants under this program.

Council must identify geographic areas with highest unemployment rates for priority grant distribution and develop an application process and scoring system based on job permanency for awarding grants.