CT HB07080

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, and post it on the department's website within 30 days.

Report must include analysis of Connecticut's economy (employment by industry, unemployment rates, gross state product), economic development portfolio programs, community development portfolio, and assessment of whether statutory and programmatic goals are being met.

Report must cover business assistance programs administered by Connecticut Innovations, Incorporated and tax incentive programs not administered by the department, but only those with ten or more recipients or distributing more than $1 million in the preceding fiscal year.

Report must include specific data on recipient assistance (names, addresses, business activities, minority/woman-owned status, job creation requirements, private investment leveraged, and state investment amounts) published on the state's open data portal.

Joint standing committees must hold public hearings within 60 days after the Auditors of Public Accounts submit their report to discuss the department's annual report and analyses of business assistance and tax incentive programs, effective October 1, 2019.