Hartford Business Journal

HARTFORDBUSINESS.COM | FEBRUARY 24, 2025 9 Politics & Policy Lamont proposes new AI venture fund, hiring 2 AI strategists within state gov't Gov. Ned Lamont has proposed creating a new state venture capital fund dedicated to investing in startups driven by artificial intelligence and quantum computing. In addition, his $55.2 billion biennial budget proposal sets aside $200,000 in fiscal year 2027 to fund two new positions at the state Department of Economic and Community Develop- ment (DECD) to coordinate the state's AI strategy. In his Senate Bill 1249, Lamont calls on Connecticut Innovations, the state's quasi-public investment arm, to establish the new venture fund so the state can take advantage of AI's "many breakthrough opportunities." The bill also directs multiple execu- tive branch agencies to collaborate and develop a proposal for an "AI regulatory sandbox — to make Connecticut the most attractive state in the region for AI development in targeted industries: insurance, finance and health services." The two new DECD positions would coordinate the state's AI strategy, Lamont said, including higher-ed research efforts, curriculum develop- ment within K-12 schools and colleges, and data and technology investments. David Krechevsky | HBJ Capitol Reporter a portion of their properties to multifamily housing, including the Connecticut Post Mall in Milford and the Danbury Fair mall. Doucette represents a town with a struggling mall — The Shoppes at Buckland Hills, which has been going through a foreclosure process since 2021. The town conducted a study of the sprawling mall property that suggested it could be ripe for multifamily development. There are other bills in the legis- lature under consideration that would incentivize the conversion of empty or underused commer- cial buildings to housing. David Krechevsky | HBJ Capitol Reporter PHOTO | COSTAR The struggling Shoppes at Buckland Hills mall in Manchester. Legislators consider tax abatement for converting malls to housing The state legislature's Planning & Development Committee is consid- ering a bill that would provide tax breaks for converting shopping malls to residential use. House Bill 6424, proposed by Rep. Jason Doucette (D-Manchester), would establish a property tax abatement for shopping malls that are converted to residential use, and provide payment in lieu of taxes to reimburse municipalities for the resulting loss of property tax revenue. Operators of at least two malls in Connecticut have plans to convert Warehouse employee quota restrictions gain key supporter Gov. Ned Lamont is backing efforts to put restrictions on warehouse employee production quotas. Lamont has proposed a bill that would set rules around workplace quotas, to ensure that workers know how their performance is measured, including a description of any quota to which they are subjected. Also, workers must be given the oppor- tunity to review current and historical work speed data, and informed of changes in quotas, according to the proposal. Further, the bill forbids quotas to be used to prevent workers from using the bathroom or taking scheduled meal breaks. Also, breaks cannot count against a worker unless they are required to "remain on-call." The proposal would apply to any non-salaried employee working at a warehouse distribution center with 250 or more employees at one site, or with at least 1,000 employees statewide. Earlier in the legislative session, the Labor and Public Employees Committee also raised a bill seeking to regulate the use of production quotas for warehouse workers. Similar warehouse quota bills have been raised in the past two legislative sessions, but failed to be approved. David Kreche- vsky | HBJ Capitol Reporter "Business needs change from year to year and their cash management needs may have also changed as well." Cash Management Solutions Member FDIC – J E N N I F E R Y E R G E A U, Vice President, Cash Management Commercial & Institutional Sales jyergeau@bankatpeoples.com | 860.397.9014 • Business eDepositPlus • Electronic Payments • Check & ACH Positive Pay • Automatic Sweep to Line of Credit • PeoplesOnline Cash Management bankatpeoples.com/cashmanagement Learn More

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