CT HB05435

Establishes a Connecticut green technology, life science, and health information technology loan forgiveness program administered by the Department of Higher Education, providing up to $2,500 per year for up to four years for bachelor's degree holders and up to two years for associate's degree holders who work in these fields with expected family contributions not exceeding $35,000.

Creates a qualified small business job creation tax credit of $200 per month for each new employee hired by businesses with fewer than 50 employees during income years 2010-2012, and establishes a vocational rehabilitation job creation tax credit of $200 per month for employers hiring individuals with disabilities receiving vocational rehabilitation services.

Authorizes $1 million in bonds for community-technical college workforce training programs for unemployed residents and $5 million in bonds for Connecticut Innovations, Incorporated to provide preseed financing up to $150,000 per eligible Connecticut business.

Establishes the Connecticut Credit Consortium as a small business revolving loan program with up to $15 million available in loans and lines of credit not exceeding $500,000 per business, and provides tax exemptions for solar, geothermal, and renewable energy equipment and machinery.

Creates the Connecticut Competitiveness Council to advise on economic competitiveness and industry cluster development, and amends the insurance reinvestment fund tax credit program to allow up to $200 million in aggregate credits for investments in eligible Connecticut businesses with emphasis on green technology ventures.