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HB 6767 Connecticut House · 2025 Regular Session

AN ACT CONCERNING A DISABLED VETERANS REVOLVING LOAN FUND.

HB 6767 establishes a dedicated revolving loan fund within Connecticut's Small Business Express program specifically for disabled veteran-owned businesses. This fund provides loans, loan guarantees, and related financial assistance to support business growth, with eligible applicants being businesses owned by disabled veterans who meet Connecticut's small business criteria. The loans can be used for equipment, improvements, working capital, or other business expenses, though specific interest rates and maximum amounts aren't detailed for this component (unlike the minority business fund). The program requires businesses receiving assistance to remain in Connecticut for at least five years, and the fund is designed to become self-sustaining through repayments and investment income over time.
Issues: ✓ VeteransSupports VeteransCreates dedicated revolving loan fund for disabled veteran-owned businesses, providing financial support for business growth and economic opportunities.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 28, 2025 Last action Mar 13, 2025
Maddy AI version diff · 2 comparisons

What changed between versions

Committee Bill → VA Joint Favorable Substitute Change of Reference · 3 edits
MINOR
The bill was renumbered from a Committee Bill to a Substitute Bill and the page count decreased from 9 to 8 pages. The most significant substantive change is the addition of a new requirement (subsection 6) mandating that minority business development entities receiving grants must submit annual financial audits to the commissioner until all grant funds are spent. This adds an enforcement mechanism to ensure grant money is used properly.
Scope change
The bill's scope remains focused on small business support programs, but the addition of audit requirements for grant recipients tightens oversight and accountability for minority business development entities.
TECHNICAL

Bill title changed from 'Committee Bill No. 6767' to 'Substitute Bill No. 6767' and page count reduced from 9 to 8 pages.

REQUIREMENT

New subsection (6) requires minority business development entities receiving grants to submit annual financial audits to the commissioner until all grant funds are expended, with independent auditor preparation and potential repayment requirements if funds are misused.

Minority business development entities must now submit annual financial audits to the commissioner until all grant moneys have been expended, with independent auditor preparation and potential repayment requirements if funds are misused.

Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
10
Key actions
2
Committee
4
Mar 11, 2025
Lower · Passed
Joint Favorable Substitute Change of Reference APP
lower
Feb 27, 2025
Committee
REF. TO JOINT COMM. ON Veterans' and Military Affairs
lower
Feb 26, 2025
Lower · Passed
DRAFTED BY COMMITTEE
lower
Jan 28, 2025
Committee
REF. TO JOINT COMM. ON Veterans' and Military Affairs
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.