CT SB00262

Commissioner of Economic and Community Development must submit an annual report by February 1st to the Governor, Auditors of Public Accounts, and relevant legislative committees, with the report posted publicly within 30 days.

Report must include analysis of state economy, economic development portfolio, community development portfolio, and specific analysis of business assistance and tax incentive programs administered by Connecticut Innovations, Incorporated and not by the department.

Report must cover economic impact data including employment figures, job creation, state investment amounts, private leverage ratios, and assessment of whether statutory goals of each program are being met.

Joint standing committees on appropriations, finance, and commerce must hold public hearings within 60 days after receiving an audit report from the Auditors of Public Accounts to discuss the economic development and tax incentive program analyses.

Repeals outdated minijob program provisions and eliminates separate Sports Advisory Board reporting requirements to the legislature, consolidating reporting obligations into the main Department of Economic and Community Development annual report.