CT HB07316

Requires the Commissioner of Economic and Community Development to submit an annual report (by February 1st, later changed to "annually") to the Governor, Auditors of Public Accounts, and relevant legislative committees detailing the department's economic activities and program performance during the preceding fiscal year.

Expands reporting requirements to include comprehensive analysis of all business assistance and incentive programs, including tax credits, abatements, grants, and loans, with detailed data on recipients, job creation, wages, investment leverage, and estimated economic impact.

Mandates the Commissioner provide analyses of business assistance programs not administered by the department if they had 10 or more recipients or distributed over $1 million in the preceding fiscal year, including performance assessments and recommendations for continuation, modification, or repeal.

Requires the joint standing committees on appropriations, finance, and commerce to hold public hearings on the analyses of business assistance programs beginning March 1, 2018, and annually thereafter.

Directs the Auditors of Public Accounts to conduct performance audits of incentive programs and evaluate the Commissioner's annual reports for accuracy, effectiveness, and compliance with reporting requirements, submitting findings to the Governor and relevant legislative committees.