CT HB05269

Establishes the "First Five Plus" program allowing the Department of Economic and Community Development to provide financial assistance to up to 10 eligible business development projects in fiscal year 2012 and up to 5 projects in fiscal year 2013.

Requires eligible projects to either create at least 200 new jobs within 24 months or invest at least $25 million and create at least 200 new jobs within 5 years, with new jobs maintained for a minimum of one calendar year after commitment is satisfied.

Changes commissioner's discretionary authority to enforce job creation commitments from "may" to "shall," including establishing repayment terms for financial assistance if commitments are not met.

Requires the Commissioner of Economic and Community Development to report quarterly (by January 1 and September 1 of each year) to the General Assembly on projects funded, jobs created, and economic impact through September 2013.

Mandates monthly reporting to the Governor and General Assembly beginning October 1, 2012, on all economic development investments of $10 million or more, including investment amounts, construction status, and projected job creation.