CT SB00003

Establishes a program allowing Connecticut businesses to use accumulated tax credits for capital projects that expand business operations, increase employment, or generate substantial state economic returns, or for human capital investments including job training, work education programs, and child care support (effective July 1, 2021).

Requires the Commissioner of Economic and Community Development to prioritize economic development financial assistance applicants who commit to hiring unemployed individuals, low-income individuals, dislocated workers, veterans, minorities, women, and individuals with disabilities (effective October 1, 2021).

Directs Connecticut Innovations, Incorporated to develop a plan to increase funding for small business innovation research and technology transfer programs, with annual reporting to the General Assembly beginning January 1, 2022.

Mandates a study of Connecticut's opportunity zone financial incentives by January 1, 2022, including analysis of projects funded, incentives paid, and recommendations to incentivize investment in high-unemployment/poverty opportunity zones.

Establishes a vocational village program administered by the Commissioner of Correction to provide skilled trades training and nationally recognized industry certifications to inmates in fields such as computer coding, carpentry, welding, and electrical work (effective October 1, 2021).