Connecticut legislation · 2026 General Assembly
Connecticut HB5244: AN ACT CONCERNING THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT'S RECOMMENDATIONS REGARDING THE AGENCY FINANCIAL ASSISTANCE CAP AND EMPLOYMENT PROMISSORY NOTES.
Status: Passed one chamber, May 6, 2026
What the bill says
An act concerning the department of economic and community development's recommendations regarding the agency financial assistance cap and employment promissory notes. assembly convened.
From the introduced text:
AN ACT CONCERNING THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT'S RECOMMENDATIONS REGARDING THE AGENCY FINANCIAL ASSISTANCE CAP AND EMPLOYMENT PROMISSORY NOTES. Assembly convened: Section 1. Section 32-462 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2026, and applicable to income and taxable years commencing on and after January 1, 2026): (a) As used in this section: (1) "Agency" means the Department of Economic and Community Development or Connecticut Innovations, Incorporated. (2) "Financial assistance" means grants, loans, loan guarantees, contracts of insurance, investments, or combinations thereof, which are provided from the proceeds of bonds, notes or other obligations of the state or an agency which constitute a debt or liability of the state or which are secured by a special capital reserve fund payable from LCO No. 1672 1 of Raised Bill No. 5244 amounts appropriated or deemed appropriated from the General Fund. (3) "Applicant" means any eligible applicant seeking financial assistance from an agency for a business project. The term "applicant" shall not include any political subdivision of the state. (4) "Business project" means a business proposal undertaken by one or more applicants, but does not include housing unless undertaken in combination with another unrelated type of business. [(5) "Biotechnology business project" means any commercial project to be used or occupied …
Sponsors
- John Santanella (D, 58) · primary sponsor
- Jill Barry (D, 31)
Latest actions
- : Senate Calendar Number 554
- : Favorable Report, Tabled for the Calendar, Senate
- : Transmitted Pursuant To Joint Rule 17
- : House Passed
- : File Number 315
- : House Calendar Number 234
- : Favorable Report, Tabled for the Calendar, House
- : Reported Out of Legislative Commissioners' Office
- : Referred to Office of Legislative Research and Office of Fiscal Analysis 03/31/26 5:00 PM
- : Filed with Legislative Commissioners' Office
Votes
- House Roll Call 273 (May 6, 2026): 147 yea, 1 nay, passed
- CE Vote Tally Sheet (Joint Favorable Substitute) (March 17, 2026): 20 yea, 0 nay, passed
Subjects: Employment promissory notes, Biotechnology, Economic planning and development, Connecticut Innovations, Incorporated, Economic and Community Development, Department of, State agencies, State funds
Common questions
- What is HB5244?
- HB5244 is a bill in the Connecticut Legislature (2026 General Assembly): AN ACT CONCERNING THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT'S RECOMMENDATIONS REGARDING THE AGENCY FINANCIAL ASSISTANCE CAP AND EMPLOYMENT PROMISSORY NOTES.
- What does HB5244 do?
- In its own words: An act concerning the department of economic and community development's recommendations regarding the agency financial assistance cap and employment promissory notes. assembly convened.
- What is the status of HB5244?
- Passed one chamber as of May 6, 2026. Latest action: Senate Calendar Number 554 (May 6, 2026).
- Who sponsored HB5244?
- John Santanella (D, 58), with 1 co-sponsor.
- Where is the official record for HB5244?
- On the Connecticut Legislature website: https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05244&which_year=2026
Source: official Connecticut record. Tracked by Delilah, AI for legislation across all 50 states and Congress.