Specifics Of State Jobs Bill Outlined

HARTFORD — Highlights of the bipartisan jobs bill that passed in a special legislative session October 26 include:

*A $626 million bonding authorization.

*Small Business Express Program, providing loans, forgivable loans or matching grants — ranging from $10,000 to $250,000 — to Connecticut-based small businesses and small manufacturers.

*Subsidized Training and Employment Program to help eligible small businesses and small manufacturers for a portion of training costs during the first six months of a worker’s employment.

*A $250 business entity tax every two years instead of annually as provided under current law. Effective with tax years beginning on or after January 1, 2013.

*Office of Policy and Management must hire a consultant to come up with new ways to shorten permitting and enforcement processes at the Department of Energy and Environmental Protection, the Department of Economic and Community Development, Department of Administrative Services, and the Department of Transportation.

*Set-aside of $5 million for restoring agricultural lands.

*Increase, from one to two, the number of wine festivals allowed in a calendar year.

*Allow municipalities to pass an ordinance allowing reconstruction or repair of some residences, buildings and structures damaged or destroyed by the remnants of Hurricane Irene or another act of nature.

*Authorization of three tax credit programs for certain businesses that create new jobs. The credit is $500 per month per employee or $900 per month if a new hire was unemployed, a veteran, or someone receiving vocational rehabilitation services from the Bureau of Rehabilitative Services.

*Department of Economic and Community Development must develop a list of state-owned contaminated lands that could be sold and restored for private development.

*Authorization of $1 million to create an Internet site that allows businesses to sign up for various state assistance programs.

*Reduction, from $100,000 to $250,000, the minimum cash investment a taxpayer must make to qualify for the angel investor income tax credit for those who invest in start-up, high-tech firms.

*Expansion of Governor Dannel P. Malloy’s “First Five” program to provide special state assistance to five more large-scale employers who create at least 200 new jobs within two years or invest at least $25 million and create new jobs within five years.

*Additional airport development zones to be created across the state, providing incentives to businesses in the zones.

*Authorization of up to $50 million in additional funding for state bridge repairs.

*Creation of innovative centers in key cities to provide services to entrepreneurs.

*$5 million to help nonprofit agencies and housing authorities to replace outdated furnaces and boilers with energy-efficient devices.

*Authorization of $125 million in bonds over five years to fund programs offered by Connecticut Innovations Inc to help businesses develop new concepts.

*Authorization of $5 million in bonds to create a Main Street Investment Fund account to improve town centers.

(Source: Connecticut Office of Fiscal Analysis)