Commerce Committee sets hearings on many business-related proposals
(Feb. 29, 2008) The Commerce Committee is scheduled to hold two public hearings next week on bills of interest to the business community. The first is on Tuesday, March 4, at 11 a.m. in the Legislative Office Building (LOB). Measures to be heard at the first hearing include:
SB-389 — Expands the types of projects eligible for funding from the Connecticut Clean Energy Fund, including those reducing carbon footprints, reducing air, noise or water pollution, and creating jobs or increasing the tax base.
SB-393 — Authorizes up to $8 million to Connecticut Innovations for the BioScience Facilities Fund to create laboratory space and adopt best manufacturing process principles.
SB-396 — Increases funding for CONNSTEP from $1 million to $1.5 million.
SB-398 — Provides funding to Connecticut Innovations and the Department of Economic and Community Development (DECD) to create an online information network identifying high-potential start-up companies.
SB-401 — Commissions a study to determine if a tax credit program could be created to encourage investment in emerging industries.
SB-541 — Requires the DECD to establish, an Advanced Manufacturing Center to assist manufacturers.
SB-544 — Requires DECD to conduct a survey to determine how to increase the state’s manufacturing workforce and develop a plan of action and recommendations for monitoring job skills needed by state manufacturers.
SB-549 — Establishes a tax credit for “angel investors” who provide capital to start-up businesses.
SB-551 — Implements the recommendations of the Connecticut Advisory Council on Nanotechnology’s draft report concerning investing in nanotechnology research, education and product development facilities.
SB-552 — Funds an in-state nonprofit organization dedicated to developing low-cost pharmaceuticals for people in the world’s poorest countries.
SB-555 — Develops an implementation plan for recommendations concerning Connecticut’s hydrogen roadmap.
SB-556 — Provides incentives for manufacturers to invest in fuel cells and other products that will reduce energy use.
SB-565 — Facilitates trading of emissions credits to reduce pollutants.
HB-5782 — Allows an exchange of unused tax benefits to help technology and biotechnology companies.
Hearing on March 6
The second public hearing will take place on Thursday, March 6, at 11 a.m. in the LOB. The proposals to be heard include:
SB-399 — Establishes a task force to study ways to provide regulatory relief for small businesses.
SB-400 — Eliminates the $250 business entity tax.
SB-548 — Requires the DECD to establish the goals envisioned when enterprise zones were created and determine the progress of municipalities in achieving the goals.
SB-554 — Requires the Culture and Tourism Commission to conduct a study on how to streamline its grant application process.
HB-5584 — Increases funding for incumbent-worker training.
HB-5588 — Provides new funding for incumbent-worker training programs for the northwest corner of the state.
HB-5780 — Promotes job growth in Connecticut by expanding the job creation tax credit to any business entity that creates at least one new job.
For more information, contact CBIA’s Jesmin Basanti at 860-244-1929 or jesmin.basanti@cbia.com.
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