CT HB06467

Establishes procedures for financial aid applications to Connecticut Innovations, Incorporated, requiring submission to the chief executive officer with an application fee and board approval.

Requires the board of directors to prioritize applications from defense-dependent businesses located in municipalities impacted by defense contract cutbacks that seek to convert to non-defense operations.

Defines a defense-dependent business as one deriving over 50% of in-state gross income from prime defense contracts with facilities designed specifically for defense production.

Exempts all financial, credit, and trade secret information contained in applications from public disclosure requirements.

Delegates authority to corporation staff to approve applications for up to $150,000 if total aid requested plus aid awarded in the preceding 12 months does not exceed $150,000.