CT SB00303

Establishes a pilot program administered by Connecticut Innovations, Incorporated during fiscal years 2017 and 2018 to reimburse first-time entrepreneurs for state filing, permitting, and licensing fees for new information services, biotechnology, and green technology businesses.

Requires applicants to apply before business formation and establishes approval criteria that must prioritize female and minority applicants and restrict eligibility to first-time business owners.

Caps total reimbursements at $500,000 per fiscal year for either fiscal year ending June 30, 2017 or June 30, 2018.

Requires Connecticut Innovations to submit a program review by February 1, 2018 to the joint standing committee on commerce detailing the number and status of formed businesses, employment figures, economic impact, participant satisfaction, and a recommendation on program continuation beyond June 30, 2018.