AN ACT CONCERNING THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT'S RECOMMENDATIONS REGARDING THE AGENCY FINANCIAL ASSISTANCE CAP AND EMPLOYMENT PROMISSORY NOTES.
SENATE CALENDAR NUMBER 554
Summary
The bill caps the amount any agency can award to an applicant or business project at $25 million over two years, and sets a $20 million cap for biotechnology projects unless the legislature authorizes more. It also makes it illegal for employers with 26 or more employees to force workers to sign employment promissory notes as a condition of hiring, while allowing certain repayment and collective‑bargaining agreements. The changes affect businesses seeking state financial assistance and employers and employees across Connecticut.
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