CONNECTICUT STATUTES AND CODES
Sec. 32-47a. Business plan. Report.
Sec. 32-47a. Business plan. Report. Not later than January first in each year, Connecticut Innovations, Incorporated shall submit a business plan containing a summary
of its projected operations for the year to the joint standing committees of the General
Assembly having cognizance of matters relating to the Department of Economic and
Community Development, appropriations and capital bonding. Not later than November
first, annually, the corporation shall submit a report to the Commissioner of Economic
and Community Development, the Auditors of Public Accounts and said joint standing
committees, which shall include the following information with respect to new and
outstanding financial assistance provided by the corporation during the twelve-month
period ending on June thirtieth next preceding the date of the report for each financial
assistance program administered by the corporation: (1) A list of the names, addresses
and locations of all recipients of such assistance, (2) for each such recipient: (A) The
business activities, (B) the Standard Industrial Classification Manual codes, (C) the
gross revenues during the recipient's most recent fiscal year, (D) the number of employees at the time of application, (E) whether the recipient is a minority or woman-owned
business, (F) a summary of the terms and conditions for the assistance, including the
type and amount of state financial assistance, job creation or retention requirements,
and anticipated wage rates, and (G) the amount of investments from private and other
nonstate sources that have been leveraged by the assistance, (3) the economic benefit
criteria used in determining which applications have been approved or disapproved, and
(4) for each recipient of assistance on or after July 1, 1991, a comparison between the
number of jobs to be created, the number of jobs to be retained and the average wage
rates for each such category of jobs, as projected in the recipient's application, versus
the actual number of jobs created, the actual number of jobs retained and the average
wage rates for each such category. The report shall also indicate the actual number of
full-time jobs and the actual number of part-time jobs in each such category and the
benefit levels for each such subcategory. The November first report shall include a
summary of the activities of the corporation, including all activities to assist small businesses and minority business enterprises, as defined in section 4a-60g, a complete operating and financial statement and recommendations for legislation to promote the
purposes of the corporation. The corporation shall furnish such additional information
upon the written request of any such committee at such times as the committee may
request.
(P.A. 89-245, S. 18; P.A. 93-382, S. 3, 69; P.A. 95-78, S. 4, 5; 95-250, S. 40, 42; 95-309, S. 11, 12; P.A. 96-211, S. 1,
5, 6; P.A. 99-30, S. 1; P.A. 00-212, S. 1.)
History: P.A. 93-382 required corporation to also submit business plan to general assembly committee having cognizance of matters relating to appropriations and capital bonding, report semiannually instead of quarterly and submit reports
to auditors of public accounts and same committees and specified content of such reports, effective July 1, 1993; P.A. 95-78 required reports to list federal defense conversion financial assistance programs and applications for such assistance,
effective July 1, 1995; P.A. 95-250 and P.A. 96-211 substituted Commissioner and Department of Economic and Community Development for Commissioner and Department of Economic Development and deleted provision re list of federal
financial programs for defense conversion projects, effective July 1, 1995; P.A. 95-309 changed effective date of P.A. 95-250 but did not affect this section; P.A. 99-30 changed a requirement for a biannual report regarding financial assistance
provided by the corporation to an annual report; P.A. 00-212 made a technical change in Subdiv. (2)(E).