Providing for the designation of counties or cities as electronic commerce ready cities or counties by the department of trade and economic development; creating the electronic commerce investment program to be administered by the commissioner of DTED to assist communities in becoming electronic commerce ready, specifying certain program goals; authorizing the commissioner to make grants and loans to public entities and nonprofit organizations to advance the goals of the electronic commerce initiative, requiring grants approval by the office of technology and specifying certain grant and loan requirements; requiring independent evaluations of projects and the reporting of results to the commissioner and the legislature by a certain date; requiring a certain number of commissioner grants or loans to public entities with identified private sector partners to demonstrate the use of broad band technology, to cities, counties or nonprofit organizations to demonstrate the use of universal community e-mail and to a public entity to demonstrate Internet protocol telephony; authorizing the commissioner to make additional grants and loans; specifying application requirements (ra)